SMC SLEX Inc. raised its capital expenditures (capex) this year to finance the expansion of South Luzon Expressway (SLEX).
The company said its board approved a supplemental capex budget of P3.27 billion this year to fund more projects for SLEX.
This brings the total capex to P11.33 billion from the earlier estimate of P8.06 billion to partially finance the expansion of the expressway network and construction of a new toll road.
SMC SLEX said a significant portion of the capex would go towards the TR4 project—66.74-kilometer stretch that will connect Sto. Tomas, Batangas to Lucena City, Quezon.
Upon completion in 2026, the P50-billion project aims to reduce travel time between the two points from 3 hours to just 45 minutes.
The toll road will be divided into six sections including Sto Tomas, Batangas to Makban in Laguna (11.32 km.); Makban to San Pablo City (12.75 km); San Pablo to Tiaong in Quezon (7.5 km); Tiaong to Candelaria (15 km); Candelaria to Tayabas (10.21 km); and Tayabas to Lucena (9.96 km).
The funds will also be used for the widening of the existing South Luzon Expressway (SLEX). This project aims to improve overall traffic flow and capacity on the vital expressway
SMC SLEX earlier reported a net income of P2.37 billion from January to June this year, up 18 percent from P2 billion in the same period last year.
The company’s toll revenue reached P3.96 billion, a 16-percent increase from P3.41 billion a year ago. The average transaction mode for the period was 94 percent for RFID and 6 percent for cash.
SLEX achieved an average daily traffic (ADT) of 357,548, a 2 percent increase from 351,024 in 2023.
SLEX spans 36.1 km. from Alabang, Muntinlupa City to Sto. Tomas, Batangas. It is one of the three major expressways that link Metro Manila to the provinces of Cavite, Laguna, Batangas, Rizal and Quezon (Calabarzon).
