The Metro Pacific group allots P90 billion to build an expressway that will link North Luzon Expressway and Manila-Cavite Expressway.
As per reports, President and Chief Executive Rodrigo Franco of Metro Pacific Tollways Corp. stated the “tentative project cost of the proposed NLEx-Cavitex Port Expressway Link was raised to P90.24 billion from an earlier estimate of P62.43 billion because of the tunnel component of the toll road.”
The budget would be from the operators of the two expressways, the NLEX Corp. and Cavitex Infrastructure Corp.
Franco said a tunnel expressway would be built between Rizal Park and US embassy at a cost of P40 billion.
The proposed NLEx – Cavitex Port Expressway is a 15-kilometer toll road with six lanes (2×3 configuration), with elevated and tunnel portions from NLEx Segment 10 up to Cavitex which will provide an ideal truck route directly linked to Manila Port Area.
The project’s first phase will stretch from C3 Road to Anda Circle (5.7 km). The second phase will connect Cavitex to Buendia (4.8 km) and the last phase will be from Buendia Avenue to Anda Circle (4.6 km).
The project aims to (1) alleviate traffic congestion in Metro Manila and further propel economic growth, (2) reduce truck traffic within its limited capacity road network and significantly contribute in the decongestion of the metropolis 24 hours a day and (3) further increase on commercial activity that will boost economic growth