MANILA, Philippines — Tycoons Manuel V. Pangilinan and Ramon S. Ang have commenced their first tollway project together, the P72-billion highway that will connect Cavite to Batangas.
In a ceremony late Monday, Pangilinan and Ang signed a memorandum of agreement to jointly design, build and operate the 88-kilometer Cavite-Batangas Expressway (CBEX) and the Nasugbu-Bauan Expressway (NBEX).
The new road network, first reported by The STAR, effectively sets aside the rivalry of the two business groups, and merges their similar, but separately proposed road projects in Cavite and Batangas.
The project will likewise connect Metro Pacific Tollways Corp. (MPTC)’s Cavite-Laguna Expressway (CALAX) to Bauan, Batangas, making travel easier and more convenient for motorists.
Under the agreement, MPTC and San Miguel will jointly undertake the construction, operation and maintenance of the 88-kilometer-long toll road projects.
The project is composed of two vital expressways, the 27.06-kilometer CBEX that will establish a crucial link connecting CALAX’s Silang (Aguinaldo) Interchange to Nasugbu, Batangas and the 60.9-kilometer NBEX, which will provide connectivity from Nasugbu to Bauan, Batangas.
Proponents expect to break ground in 2024. CBEX and NBEX are expected to be completed and open to the public in 2027.
Pangilinan, chairman of MPTC, and Ang, president and CEO of SMC, led the signing, along with MPTC president Rogelio Singson and SMC SVP, infrastructure business head Lorenzo Formoso Ill.
“Together, we aim to deliver world-class road networks that will serve as arteries of progress, growth and development for our country and the Filipino people. This collaboration stands as a testament to what we can achieve when we are united in purpose,” Ang said.
Pangilinan said they look forward to leveraging on their respective strengths for the realization of the vital infrastructure project.
The route will traverse the townships of Silang, Amadeo, Tagaytay, Indang, Mendez and Alfonso in Cavite before crossing into Nasugbu and finally reaching Bauan, Batangas.
In 2018, MPTC presented a proposal for the 50.4-kilometer Cavite-Tagaytay-Batangas Expressway (CTBEX) project to the Department of Public Works and Highways and was granted the original proponent status.
Similarly, SMC’s unsolicited proposal for the CBEX and NBEX was approved by the Cavite and Batangas governments.
Both projects share the common goal of connecting the provinces of Cavite and Batangas through Tagaytay City.
MPTC and SMC have decided to join forces for this significant venture.
Aside from CALAX, MPTC holds the concession for several vital expressways, including the Manila-Cavite Expressway, the C5 Link Segment, the North Luzon Expressway, the Subic-Clark Tarlac Expressway, the NLEX Connector Road and the Cebu-Cordova Link Expressway in Cebu.
SMC holds the concession for the South Luzon Expressway, Skyway, NAIA Expressway, Star Tollway, Tarlac-Pangasinan-La Union Expressway and the Muntinlupa-Cavite Expressway.
Singson, for his part, said a joint venture company would be formed to jumpstart the project.