December 17, 2020 | 12:06 am Font Size
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VALENZUELA CITY announced on Wednesday the lifting of the suspension order against the business permit of NLEX Corp., after both parties agreed to keep toll barriers up on all lanes for vehicles with radio-frequency identification (RFID) stickers.
Valenzuela City Mayor Rex T. Gatchalian said in a social media post that the “toll holiday” had ended at 12:01 p.m. on Wednesday.
He said both parties agreed to keep the toll barriers up on all RFID lanes in Valenzuela City from “5:00 a.m. to 10:00 p.m.” daily.
The mayor said toll fees would still be collected during those hours.
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12.14.2020 - NEWS
December 13, 2020 [Hydrocarbon Engineering] – Keppel Infrastructure Fund Management Pte Ltd (KIFM), as the Trustee-Manager of Keppel Infrastructure Trust (KIT), is pleased to announce that KIT and Metro Pacific Investments Corp. (MPIC) have entered into a conditional sale and purchase agreement with Philippine Investment Alliance for Infrastructure (PINAI) to acquire 100% interest of Philippine Tank Storage International (Holdings) Inc. (PTSI) which owns Philippine Coastal Storage & Pipeline Corp. (PCSPC), a petroleum products import storage facility in the Philippines.
Upon completion of the proposed acquisition, it is intended that KIT will indirectly hold 80% of the shares in PTSI, and MPIC will indirectly hold 20% of the shares in PTSI. The purchase consideration payable by KIT will be in proportion to its respective shareholding in PTSI and is estimated to be US$267 million (approximately S$357.6 million
December 10, 2020 | 8:08 pm Font Size
PHILIPPINE STAR/MICHAEL VARCAS
TOLL road operator NLEX Corp. said on Thursday it would relocate some of its radio-frequency identification (RFID) installation and reloading stations from toll plazas in Valenzuela City to ease traffic congestion in the area.
In an e-mailed statement, the company said it would transfer the existing RFID sticker installation and account reloading stations in the Karuhatan and Mindanao toll plazas “in order to improve traffic flow in the nearby areas.”
On Monday, the Valenzuela City government suspended NLEX Corp.’s business permit for the Karuhatan-Mindanao Avenue Toll Plaza, Karuhatan-Harborlink Toll Plaza, Karuhatan-MacArthur Highway Sub-Exit, Mindanao Avenue Toll Plaza, Paso de Blas Toll Plaza North Bound, Paso de Blas Toll Plaza South Bound, and Lawang Bato Toll Booth.