The Department of Public Works and Highways (DPWH) has signed the Concession Agreement with the SMC TPLEX Extension Infrastructure Corporation (STEIC) for the Tarlac-Pangasinan-La Union Expressway (TPLEX) Extension Project in the Philippines.
The DPWH has declared San Miguel Holdings Corporation (SMHC) as the winning private proponent for the design, financing, construction, operation, and maintenance of the TPLEX Extension Project. With a cost of PhP 23.4 billion (US$400 million), the project will be handled by STEIC, a Special Purpose Company formed by SMHC.
The project, a 59.4-km, four-lane extension, has a 34-year concession period and was an unsolicited proposal from SMHC. The extension will connect the Ilocos Region, Central Luzon, and Metro Manila, with Segment 1 targeted for completion before 2028. It aims to reduce travel time between Rosario and San Juan in La Union from 1.5 hours to 40 minutes.
The Asian Infrastructure Investment Bank (AIIB) has approved financing of up to USD 1.14 billion for the Bataan-Cavite Interlink Bridge (BCIB) project in the Philippines.
Read moreThe Japan International Cooperation Agency (JICA), together with Sumitomo Corporation and Hankyu Corporation, have concluded an agreement for the operation and maintenance of the Manila Light Rail Transit System Line 1 in Metro Manila, Philippines.
Read moreThe National Economic and Development Authority (NEDA) Board has approved the detailed specifications and updated parameters, terms, and conditions (PTCs) for the University of the Philippines - Philippine General Hospital (UP-PGH) Cancer Center Project.
Read moreThe Department of Transportation (DOTr) and the Manila International Airport Authority (MIAA) signed the Concession Agreement with the SMC-SAP & Company Consortium for the Ninoy Aquino International Airport in the Philippines.
Read moreThe Department of Transportation (DOTr) has finalized the third tranche of loan financing with the Japan International Cooperation Agency (JICA) for the Metro Manila Subway project in the Philippines.
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