28.2 C
Tuesday, December 5, 2023

Metro Pacific, San Miguel sign P72-billion deal to build 2 expressways

Metro Pacific Tollways Corp. said Tuesday it signed a P72-billion deal with San Miguel Corp. to construct two expressways south of Metro Manila.

Under the memorandum of agreement, MPTC and SMC will jointly undertake the construction, operation and maintenance of the 87.96-kilometer Cavite-Batangas Expressway and Nasugbu-Bauan Expressway.

Metro Pacific and San Miguel
San Miguel Corp. president Ramon Ang and Metro Pacific chairman Manuel Pangilinan


The project aims to connect MPTC’s Cavite-Laguna Expressway to Bauan, Batangas, making travel easier and more convenient for motorists

This will encompass two vital expressways—the 27.06-kilometer CBEX that will establish a crucial link connecting CALAX Silang (Aguinaldo) Interchange to Nasugbu and the 60.90-kilometer NBEX that will provide seamless connectivity from Nasugbu to Bauan.

The groundbreaking is scheduled for 2024, and CBEX and NBEX are expected to be completed by 2027.

“Our shared commitment to nation-building has led us to this historic collaboration. 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,” San Miguel president Ramon Ang said.

“This collaboration stands as a testament to what we can achieve when we are united in purpose,” he said.

MPTC chairman Manuel Pangilinan said together with SMC, the company envisaged a future where CBEX and NBEX could help pave the way for connectivity and economic growth in the CALABARZON region.

“We look forward to leveraging on our respective strengths for the realization of this vital infrastructure project,” he said.

The MOA signing underscores the commitment of both toll road companies to deliver world-class expressways that will serve the needs of millions of motorists and commuters in CALABARZON.

MPTC and SMC will work closely with the government, local communities and stakeholders to ensure a sustainable and responsible development that aligns with the country’s infrastructure goals.

The route will traverse the towns of Silang, Amadeo, Tagaytay, Indang, Mendez and Alfonso in Cavite before crossing to Nasugbu and finally reaching Bauan.

MPTC in 2018 presented a proposal for the 50.4-kilometer Cavite-Tagaytay-Batangas Expressway project to the Department of Public Works and Highways and was granted the original proponent status.

SMC’s unsolicited proposal for the CBEX and NBEX was also approved by the Cavite and Batangas provincial governments. Both projects share the common goal of connecting the provinces of Cavite and Batangas through Tagaytay City.

MPTC and SMC agreed to come together as partners in the significant ventures.

Aside from CALAX, MPTC holds the concession for several vital expressways including the Manila-Cavite Expressway, its C5 Link Segment, the North Luzon Expressway, Subic-Clark Tarlac Expressway, NLEX Connector Road and the Cebu-Cordova Link Expressway in Cebu.

SMC holds the concession for crucial toll roads such as the South Luzon Expressway, Skyway, NAIA Expressway, Star Tollway, Tarlac-Pangasinan-La Union Expressway and Muntinlupa-Cavite Expressway.

The implementation of the transaction is subject to completion of certain conditions, including the execution procurement relevant approvals and execution of definitive agreements.

- Advertisement -


Popular Articles