Nlex Concession Agreement
In the early 1990s, the government and the Philippine National Construction Corporation (PNCC) began in accordance with then-President Fidel V. Ramos` Philippine 2000 program with the search for joint venture partners with technical, operational and financial resources to sanitize and modernize the original NLEX as a “flagship project”, extending it to the subic and Clark Special Economic Zones and the northern part of the Circumferential Road C-5 vo n of the Un. iversity of the Philippines. Malabon City, near the port of Manila.In In 1998, MNTC obtained the concession of NLEX, which is included in a super operation agreement supplement (STOA) between the Republic of the Philippines (ROP) by TRB and PNCC. Under STOA, the Government confirmed the transfer by PNCC of its usufruct rights, interests and privileges over the existing NLEX, including all enlargements, interconnections and deviations in favour of MNTC. These concessions enabled MNTC to build, finance, manage, operate and maintain all roads covered by Phases 1, 2 and 3 of the Manila North Expressway (MNE) and to collect tolls. After successfully obtaining the necessary funding for the project, MNTC began construction of Phase 1 in February 2003. In February 2005, Phase 1 was successfully and on time. Following the issuance of the Super Operation Permit by the Toll Regulatory Board, commercial operation began on February 10, 2005. MANILA, Philippines (SPOKE) — Senator Sherwin Gatchalian on Sunday warned toll companies that their concessions could be revoked when he requested a review of the concession agreement between the government and toll operators on issues and other possible violations of the implementation of the Radio-Frequency Identification (RFID) non-cash payment system. The project included the rehabilitation, expansion, operation and maintenance of an existing 84 km road connecting Metro Manila to central Luzon. The Toll Regulatory Board of the Philippines has granted the 30-year toll concession to Manila North Tollways Corporation (MNTC) on a transfer basis of renovation construction operations….