Conglomerate San Miguel Corp.’s (SMC) infrastructure and toll road investments arm, San Miguel Holdings Corp. (SMHC), and state-run Philippine National Construction Corp. (PNCC) have agreed to undertake infrastructure projects worth P554 billion.
In a recent regulatory disclosure, SMC said the agreement includes expansion of Metro Manila Skyway Stages 3 and 4, the Tanauan-Tagaytay Expressway or Sky 8, Toll Road 5 (which extends the South Luzon Expressway from the end of Toll Road 4 in Pagbilao, Quezon to Matnog, Sorsogon), Sky 7 (connecting Taguig to Commonwealth Ave. in Quezon City), Buendia Interchange and ramp extension to Macapagal Bolevard; and Sky 9 (Pasig River alignment) including ramps to Buendia, Pioneer, and Bonifacio Global City.
SMC said that once the agreement is executed, SMHC and PNCC intend to start the extensions of SLEX, Skyway Stage 3, and C6 by next year, creating a seamless network of roads and expressways connecting Metro Manila to neighboring provinces.
The undertakings will be carried out with the participation of the Department of Public Works and Highways, Department of Transportation, Toll Regulatory Board, and other government agencies.
PNCC, in a separate regulatory disclosure, said: “SMHC has yet to conduct a feasibility study on the jointly identified extensions or linkages” of SLEX and Skyway Stages 1, 2, 3 and 4.
SMHC and PNCC are joint-venture partners in Citra Central Expressway Corp. and Citra Intercity Tollways Inc., the concession companies of Skyway Stages 3 and 4. The state-run construction company, under its legislative franchise, has the authority to construct, maintain, and operate SLEX and Skyway Stages 1, 2, and 3. It can also undertake extensions, linkages, or stretches from any part of the existing toll roads.
“A dynamic, job-creating economy needs good infrastructure and a good transport system. We need to fast-track infrastructure spending to significantly improve investment into the Philippines. Good roads, good airports, good ports—all of this was needed yesterday,” SMC president and chief operating officer Ramon Ang said in a statement.
“San Miguel and our long-time partner, PNCC, are committed to do everything we can to deliver the infrastructure projects that fall within our concession agreement,” he said.
PNCC president and chief executive officer Mario Espinosa said the development “augurs well for the recent extension of PNCC’s corporate life by another 50 years, which was directed by President Rodrigo Duterte.”
Image courtesy of mapichai at FreeDigitalPhotos.net
