The tollway unit of San Miguel Corp. said it has earmarked P8.06 billion in capital expenditure (capex) for 2024 to partially finance the expansion of their existing expressway network and construction of a new toll road.
SMC SLEX Inc. said a significant portion of the capex will go towards the TR4 project. This 66.74-kilometer toll road will connect Sto. Tomas, Batangas to Lucena City, Quezon.
Upon completion in 2026, the P50 billion project aims to significantly reduce travel time between these 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 allocated 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 this vital expressway
SMC SLEX earlier reported a net income of P4.17 billion in 2023, higher from P3.48 billion in the previous year.
Toll revenue amounted to P7.05 billion, an increase of 10 percent from P6.44 billion in 2022.
For the year 2023, South Luzon Expressway (SLEX) achieved an annual average daily traffic (AADT) of 351,722 lower by 7 percent from 2022 AADT of 376,267.
Overall, the AADT in SLEX registered a compound annual growth rate( CAGR) of 4.5 percent last year, lower from 5.6 percent in 2022.
SLEX currently spans 36.1 km from Alabang, Muntinlupa to Sto. Tomas, Batangas. It is one of the three major expressways that link Metro Manila to the key southern provinces of the Philippines, including Cavite, Laguna, Batangas, Rizal and Quezon(Calabarzon).