Agreement signed for USD822 million Expressway PPP Project in Philippines
The provincial government of Batangas has granted San Miguel Corporation (SMC) a 35-year concession to design, build, operate, and maintain a 4-lane, 61-km toll road in Batangas, Philippines.
San Miguel Corporation (SMC) will carry out the Nasugbu-Bauan Expressway (NBEX) project which will provide a faster connection between the eastern and western parts of Batangas. SMC also holds the concessions for the South Luzon Expressway (SLEX), Skyway, Tarlac-Pangasinan-La Union Expressway (TPLEX), and the Southern Tagalog Arterial Road (STAR) Tollway in addition to NBEX and Cavite-Batangas Expressway (CBEX). After the project is operational, SMC will provide the local government with 70% of the project's income so they can fund crucial services for the people of Batangas.
It is expected that the NBEX will decrease the travel time between Nasugbu and Bauan municipalities from 1.5 hours to 45 minutes and also reduce the travel time to and from Manila from 5 hours to 2 hours.
The project aims to complete in 48 months, which includes 12 months dedicated to developing the detailed engineering design.
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