MANILA, Philippines – The infrastructure arm of San Miguel Corp. (SMC) and state-run Philippine National Construction Corp. (PNCC) have signed an agreement to expand the Metro Manila Skyway Stage 3 and 4 and other projects for P554 billion.
San Miguel Holdings Corp. (SMHC) said in a statement yesterday the agreement includes the extension of the 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 respective concession companies of Skyway Stages 3 and 4.
Under its legislative franchise, PNCC has the authority to construct, maintain and operate the South Luzon Expressway and Skyway Stages 1, 2 and 3.
It can also undertake extensions, linkages or stretches from any part of the existing toll roads.
The agreement also covers the following projects: Tanauan-Tagaytay Expressway or Sky 8, TR5 (extending the SLEX from the end of TR4 in Pagbilao, Quezon to Matnog, Sorsogon), Sky 7 (connecting Taguig to Commonwealth Avenue in Quezon City), Buendia Interchange and Ramp Extension to Macapagal Boulevard and Sky 9 (Pasig River Alignment) including ramps to Buendia, Pioneer and Bonifacio Global City.
“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,” SMC president and chief operating officer Ramon 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,” he said.
PNCC president and chief executive officer Mario Espinosa said PNCC is looking forward to working with SMHC.
“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.
Following the signing of the agreement, both parties are looking to speed up the implementation of the projects.
“Within the next year or so, we hope that work can begin 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.
27 April 2017
By Louella Desiderio