NEWS AROUND SUBIC BAY

NLEX Corp. is spending over P2 billion to expand the Subic Freeport Expressway to accommodate growing vehicle traffic, a top executive said over the weekend.

The Subic Bay Metropolitan Authority (SBMA) has greenlighted the takeover by a new company of the debt-ridden property previously leased out to the Lyceum of Subic Bay, Inc. (LSBI), saying the agreement provided for a “win-win” solution for the Subic agency to collect more than P31 million in overdue rent payments and other arrears.

Researchers have found the wreckage of the US warship Indianapolis, which was sunk by a Japanese torpedo in the final days of World War Two, more than 18,000 feet (5.5 kilometers) below the surface of the Pacific Ocean, the Navy said on Saturday.