Photo Release
07 June 2013
San Miguel Corporation, winning bidder of the NAIA Expressway Toll Road Project paid the upfront cash of Php11 Billion yesterday to the Department of Public Works and Highways. The amount paid is on top to the construction cost of the PPP project worth Php 15.5 billion.
Under the Build-Transfer Operate scheme SMC will operate the toll road for 30 years, which includes the period of its construction. At the end of the cooperation period, this will be turned over the Philippine government who will undertake its operations.
The entire project is a 4-lane, 7.75 kilometer elevated expressway and a 2.22 kilometer at-grade feeder road that will link up terminals I, II and III of the NAIA to the Skyway and the Manila-Cavite Toll Expressway. It will also provide entry and exit ramps on both Macapagal and Roxas Boulevard, including the Entertainment City of the Philippine Amusement and Gaming Corp.
The notice of award was released by the DPWH last May 6, 2013. The DPWH will review the post award requirements submitted by the SMC within 7 days after receiving the upfront cash payment last June 5.
Payment in check. SMC pays the upfront cash of Php11 Billion for the NAIA Expressway Project of the Department of Public Works and Highways.
