Metro Manila (CNN Philippines, July 18) — San Miguel Corporation (SMC) has confirmed that it has partnered with Metro Pacific Tollways Corporation (MPTC) to develop a new tollway that would link Cavite and Batangas.
“We confirm that San Miguel Corporation and Metro Pacific Tollways Corporation have agreed to jointly develop a new project for the construction and operation of a tollway project that will link the provinces of Cavite and Batangas and effectively merge the respective road projects of both corporations,” SMC said in a statement dated July 17.
According to a disclosure posted on the Philippine Stock Exchange, “an agreement in principle has been reached” and that discussions are ongoing for the terms and conditions of the agreement.
SMC is the operator of the Tarlac-Pangasinan-La Union Expressway, the Southern Tagalog Arterial Road, the South Luzon Expressway, the Skyway System, and the NAIA Expressway.
