The Department of Public Works and Highways (DPWH) signed the Concession Agreement on July 03, 2024, with the SMC TPLEX Extension Infrastructure Corporation (STEIC) for the Tarlac-Pangasinan-La Union Expressway (TPLEX) Extension Project. The ceremonial handover of the signed Concession Agreement to the President was held last July 10, 2024, at the Malacañang Palace.
On June 03, 2024, the DPWH declared San Miguel Holdings Corporation (SMHC) as the winning private proponent for the design, financing, construction, operation, and maintenance of the TPLEX Extension Project. STEIC, a Special Purpose Company formed by SMHC, will handle the project.
With the project cost of PhP23.4 billion, the TPLEX Extension is expected to reduce travel time between Rosario and San Juan in La Union from 1.5 hours to just 40 minutes. The concession period for the project is thirty-four (34) years from the signing of the contract.
DPWH Secretary Manuel M. Bonoan highlighted that the project will not only reduce travel time and logistics costs, but will also increase economic opportunities, improve access to key services, and support the growth of Northern Luzon’s commercial and tourism industries.
In his speech, President Ferdinand R. Marcos, Jr. emphasized the importance and impact of public-private partnerships in pursuing big-ticket projects under the Build-Better-More Program for the country’s development.
“With more meaningful public-private partnerships like this, we can pursue and gain more for the benefit of the nation” the President said.
The TPLEX Extension project was an unsolicited proposal submitted by SMHC. It is a 59.4-kilometer, four-lane extension from the last exit of the existing TPLEX in Rosario, La Union that will connect the Ilocos Region, Central Luzon, and Metro Manila. The project will be divided into three (3) segments, with Segment 1 targeted for completion before the end of President Marcos’s term in 2028.
