The tollway unit of San Miguel Corp. said it is spending P14.85 billion to extend South Luzon Expressway by more than 56 kilometers from Sto. Tomas, Batangas to Tayabas, Quezon.
South Luzon Tollways Corp. said its board approved the implementation of all works for the SLEx Phase 2 Toll Road 4 project and the plan to negotiate with contractors for the engineering, procurement and construction contracts.
The project is a 56.87-kilometer, four-lane road from Sto. Tomas, Batangas to Tayabas/Lucena in Quezon.
The project is divided into five sections. Section 1 covers Sto. Tomas, Batangas to Macban, Laguna (11.32 km); Macban, Laguna to San Pablo, Laguna (12.2 km); San Pablo, Laguna to Tiaong, Quezon (7.5-km); Tiaong to Candelaria, Quezon (15 km) and Candelaria to Tayabas/Lucena, Quezon (10.93 km).
SLTC said the project would reduce travel time along the 58-kilometer stretch between Sto. Tomas and Lucena from four hours to one hour.
The company said the project would enhance the economic efficiency of the existing SLEx, allowing to meet the increasing demand of traffic volume due to the rapid growth population, urbanization and economic development of Quezon province and adjoining provinces.
The project is expected to be completed by 2021.
The expansion to TR4 is a part of SLTC’s concession for a period of 30 years or until 2036.
The SLEx-Toll Road 4 is the latest project in San Miguel’s infrastructure portfolio, which also includes the Tarlac-Pangasinan-La Union Expressway, the at-grade and elevated Skyway system and Skyway Stage 3, the Naia Expressway, the existing SLEx and the recently upgraded and expanded Southern Tagalog Arterial Road.
SLTC also submitted an unsolicited proposal to build a 29-kilometer toll road called the Tanuan-Tagaytay Expressway for P27 billion.
The proposed expressway is an extension of SLEx from Tanauan City, Batangas and passing through the municipalities of Silang, Amadeo and Indang in Cavite all the way to Tagaytay City.
Based on the designed of the proposed toll road, the project will have five interchange locations providing entry and exit access to SLEx including SLEx interchange, Calamba-Tagaytay Road, Sta. Rosa-Tagaytay Road, Gen. Emilio Aguinaldo Highway and Tagaytay-Nasugbu Highway.
SLTC reported a net income of P2.18 billion in January to September 2017, down from P2.58 billion in the same period in 2016. Revenue from toll operations rose 6.69 percent to P4.30 billion from P4.03 billion.