SCTEx spending P2b to expand Subic-Tipo road
Posted 4 years ago
Photo Credit: skyscrapercity.com
The company that operates Subic-Clark-Tarlac Expressway in Central Luzon said it is spending P2 billion to widen the Subic-Tipo section which connects the provinces of Bataan and Zambales.
NLEX Corp. president and chief executive Rodrigo Franco said Subic-Tipo Expressway or STEx would be expanded from 1×1 lane to 2×2 lanes in each direction.
Franco said the project was expected to start before the end of the year and be completed by the third quarter of 2019.
“The widening of the lanes would double the capacity of the expressway,” he said.
SFEx, which was constructed in time for the Asia Pacific Economic Cooperation meeting in Subic in 1996, is now a part of SCTEx.
NLEX holds the concession to manage, operate and maintain SCTEx, a 93.77-km four-lane highway, traversing the provinces of Bataan, Pampanga and Tarlac.
SCTEx also connects to the North Luzon Expressway which spans approximately 95 kilometers, or 527-lane kilometers, and serves an average of 237,046 a day. It is the main infrastructure backbone that connects Metro Manila to Central and Northern Luzon.
NLEX earlier reported a net income of P2.9 billion in the first half, up 22 percent from P2.3 billion in the same period last year.
NLEX attributed the growth in revenues in the six-month period to higher toll collection at NLEx and SCTEx and more efficient utilization of resources covering toll operations and maintenance costs.
Toll revenues reached P6.7 billion, up 15 percent year-on-year on the steady increase in traffic and toll revenue contribution from both NLEx and SCTEx operations and increase in non-toll revenues.
Non-toll revenues climbed to P100 million from P83 million with the increase in royalty fees, utility facility fees and other non-toll initiatives.