MANILA, Philippines - A joint venture agreement to build a P18-billion link between the North and South Luzon expressways was inked Tuesday between the Metro Pacific Tollways Development Corp. and the Philippine National Construction Corp.
The deal signals the start of the Manila North Tollways Corp.'s (MNTC) construction project from Mindanao Avenue in Quezon City and McArthur Highway in Valenzuela City stretching 2.4 kilometers.
The link will also pass Manila's Port Area and the Polytechnic University of the Philippines in Sta. Mesa district--two sectors stretching 13.8 kilometers combined.
The interconnecting road spans 16.2 kilometers in total.
The construction of the Mindanao-McArthur or Sector 9 is expected to be concluded by June this year while the part running across Port Area or Sector 10 will commence on the second quarter of the year for a 2015 completion, the MNTC said.
The construction of the Port Area-PUP or Sector 10 , meanwhile, will start on the third quarter of the year, the firm said.
The MNTC said that the NLEX Metro Expressway link will be connected to the planned Metro Manila Skyway 3 project, which was also launched on Tuesday by the Department of Transportation.
The new NLEX-SLEX link is expected to decongest metro roads of heavy traffic by reducing travel time between the two major expressways.
The link is also seen to end truck ban concerns as it facilitates the transport of goods from Luzon's northern and southern provinces.