MANILA, Philippines -Conglomerate San Miguel Corp. signed a joint venture agreement with the Batangas provincial government to build a P45-billion expressway that will cut travel time from Metro Manila to locations within the province.
In a statement, SMC said the Batangas government granted its infrastructure arm, SMC Infrastructure, a 35-year concession to design, build, operate, and maintain the four-lane, 61-kilometer toll road known as the Nasugbu-Bauan Expressway (NBEx).
The NBEx which will link the eastern and western portions of the province, can be “substantially completed” in 48 months. This includes the 12-month development of the detailed engineering design, the company said.
SMC said the expressway would “cut travel time by half between Nasugbu to Bauan, Batangas from 1.5 hours to just 45 minutes.”
“It will also reduce the usual five-hour trip to and from Manila to only two hours,” the conglomerate said.
“I’m glad that our company will have another opportunity to further strengthen our collaboration with Batangas, through the NBEx, and ensure that its benefits are shared broadly,” SMC president Ramon S. Ang said in the statement.
“We have committed to deliver 70 percent of the project’s profits to the local government, once its operational, to be used to provide vital services for our kababayans in the province. This will be key to furthering the growth of the province and improving lives and livelihood,” he added.
The project will start at Barangay Kaylaway, Nasugbu town, which runs parallel to Tagaytay-Nasugbu and Palico-Balayan highways. T
The terminus of NBEx at Brgy. Kaylaway connects the expressway to another SMC Infrastructure project, the Cavite-Batangas Expressway, which leads to Tagaytay City and Silang, Cavite.
The project has four sections: Section 1 is a 10.78-kilometer segment that stretches from Brgy. Kaylaway to Brgy. Banilad in Nasugbu town; Section 2 is a 13.03-km segment from Brgy. Banilad to Balayan town; Section 3 is a 16.3-km segment from Balayan to Lemery, and Section 4 is a 20.79-km segment from Lemery to Bauan.
“This project will drive a lot of development for our province and for our towns here in the first district,” Governor Hermilando Mandanas said in the same statement.
SMC is one of the country’s biggest companies with assets spanning food, drinks, energy and infrastructure.
Its toll road portfolio includes the South Luzon Expressway, Skyway States 1, 2 and 3, Southern Tagalog Arterial Road, Tarlac Pangasinan La Union Expressway, Naia Expressway and Alabang South Skyway Extension.