NLEX Corp. said it is on track to meet its P10-billion revenue target this year on higher vehicle volume at North Luzon Expressway and Subic-Clark Tarlac Expressway. NLEX president and chief executive Rodrigo Franco said the company is likely to end the year with a total revenue of P10 billion, higher from the P8 billion revenues last year. Franco attributed the increase in revenues to the higher number of vehicles plying at NLEx and SCTEx. NLEX earlier said it expected toll revenues to reach P24.1 billion by 2022, up from only P11.7 billion this year, boosted by existing and new tollway projects. NLEX also submitted unsolicited proposals worth P122.43 billion to build two major expressway projects in Manila, including the C-5 Expressway Project and the NLEx-Cavitex Port Expressway Link Project.

Source: The Standard November 02, 2017 13:52 UTC