(CNN Philippines, April 26) — The infrastructure arm of San Miguel Corporation is partnering with the government to expand toll roads in the country.
In a statement Wednesday, San Miguel Holdings Corporation (SMHC) said it has signed an agreement with state-run Philippine National Construction Corp. (PNCC) for a toll network project estimated to cost P554 billion.
The expanded road network will include the extension of the Metro Manila Skyway Stage 3 project and the Metro Manila Expressway, or C6-Skyway Stage 4.
SMHC and PNCC are joint venture partners in Citra Central Expressway Corp., and Citra Intercity Tollways, Inc., the concession companies of Skyway Stages 3 and 4, respectively.
“A dynamic, job-creating economy needs good infrastructure and a good transport system. We need to fast-track infrastructure spending to significantly improve investment into the Philippines. Good roads, good airports, good ports-all of this was needed yesterday,” San Miguel Corp. President and Chief Operating Officer Ramon S. Ang said.
“San Miguel and our long-time partner, PNCC, are committed to do everything we can to deliver the infrastructure projects that fall within our concession agreement,” Ang added.
PNCC President and CEO Mario Espinosa said they are looking forward to working again with SMHC. PNCC has the authority to construct, maintain and operate the South Luzon Expressway (SLEx) and Skyway as well as all extensions, linkages or stretches from any part of the existing toll roads through its legislative franchine.
“This augurs well for the recent extension of PNCC’s corporate life by another 50 years, which was directed by President Rodrigo Duterte,” he said.
Ang noted that with the joint venture, they can work on the extension of SLEx, Skyway Stage 3, and C6.
“We have within our agreement all the extensions that will help us create an entire seamless network of roads and expressways connecting Metro Manila to neighboring provinces. We will operate, between us, the most extensive network of Philippine tollways,” Ang said.
He added that San Miguel and PNCC are ready to do their share to meet President Rodrigo Duterte’s call for greater private investment in order to usher a “golden age of infrastructure”.
