San Miguel Corp. said over the weekend it signed an agreement with the the Department of Transportation to construct the South Luzon Expressway Toll Road 5 that will provide faster mobility in the Bicol Region.
A vital component of the SLEX TR5, the signed supplemental toll operations agreement will be submitted to the Office of the President for approval.
SLEX TR5 is a four-lane, two-by-two toll road spanning 417 kilometers from the terminal point of SLEX TR4 Project in Barangay Mayao, Lucena City, Quezon to Matnog, Sorsogon near the Matnog Ferry Terminal.
The project will run parallel to the Philippine National Railway, Maharlika Highway and Padre Burgos National Road or Quirino Highway.
It will be divided into eight sections, namely Lucena to Gumaca, Quezon ( 59.60 km.), Gumaca to Tagkawayan (62.40 km.) Tagkawayan to Sipocot, Camarines Sur (59 km.), Sipocot to Naga City (35.40 km.), Naga City to Polangui, Albay (48 km.), Polangui to Legazpi City (35 km.), Legaspi to Sorsogon City (54.30 km.) and Sorsogon City to Matnog, Sorsogon ( 62.78 km.)
The project is expected to provide better and safer access to tourism destinations, Ro-Ro ports and fish ports and address traffic congestion in the Bicol Region.
The SLEX Toll Road 5 is under a joint venture of the San Miguel Holdings Corp. and the Philippine National Construction Corp.
San Miguel is now constructing a P26.1-billion expressway from Batangas to Quezon. It started the construction of the 66.74-kilometer SLEX Toll Road 4 that would connect Sto. Tomas, Batangas to Lucena City, Quezon in 2019.
The toll road will shorten the travel time from Sto. Tomas, Batangas to Barangay Mayao in Lucena City from the usual three hours to45 minutes. It is expected to be completed by 2026.
The toll road will be divided into six sections, namely Sto. Tomas, Batangas to Makban, Laguna (11.32 km.); Makban to San Pablo City (12.75 km.); San Pablo to Tiaong, Quezon (7.5 km.); Tiaong to Candelaria (15 km.); Candelaria to Tayabas (10.21 km.); and Tayabas to Lucena (9.96 km).
TR4 is a part of SLTC’s 30-year concession that will last until 2036.