The North Luzon Expressway project was funded through a combination of equity (32%) and debt (68%) financing. The four partners of the Manila North Tollways Corporation put up an equity funding totaling $117.5 million, with the respective contributions of each as follows: Lopez Group (through First Philippine Infrastructure Development Corporation), $75.5 million; Egis Projects S.A., $19 million; Leighton Contractors Asia Ltd., $19.4 million; and Philippine National Construction Company, $3.6 million. The debt component was obtained from a consortium of major multilateral credit and export agencies and international commercial banks.
MNTC is expected to get the return on its investments through the collection of direct road-user toll fees during the 30-year concession period granted to the company by the Republic of the Philippines through the Toll Regulatory Board.
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