SMC-MPIC tollway project to cost P75 billion

MANILA, Philippines — The tollway project of San Miguel Corp. (SMC) and Metro Pacific Investments Corp. (MPIC) that will link Cavite to Batangas is estimated to cost around P75 billion.

“Our expressway, Batangas-Cavite, will cost maybe around P75 billion,” SMC president and chief executive officer Ramon S. Ang told reporters on the sidelines of the Post-SONA Economic Briefing yesterday.

Earlier, he said the tollway project with MPIC would cover a 96-kilometer landmark tollway that will connect Cavite to Batangas and then Batangas to the Cavite-Laguna Expressway.

By teaming up for the tollway project, the two firms are effectively setting aside their competing and similar road proposals that cover the two provinces.

Ang said they hope to close the deal soon.

“We are about to close. Once we close, we will start to buy right of way,” he said.

Ang said construction of the project would take about four years.

He expects the project to be competed by 2027.

As the government is pushing for public-private partnership (PPP) projects, he said SMC is  interested in participating in the bidding for the second phase of the Central Luzon Link Expressway (CLLEX).

The second phase of CLLEX will extend Phase I (Tarlac City until Cabanatuan City) by connecting Cabanatuan City and San Jose City in Nueva Ecija.

Aside from the finance, design, and construction of the project, the private proponent for CLLEX Phase II will also be responsible for the operations and maintenance of the entire CLLEX.

At present, SMC’s infrastructure portfolio includes the Tarlac-Pangasinan-La Union Expressway, Skyway System, Southern Tagalog Arterial Road, South Luzon Expressway, NAIA Expressway, Pasig River Expressway, Metro Rail Transit 7, Bulacan Bulk Water Supply Project, Boracay Airport, and the New Manila International Airport.