The tollway unit of San Miguel Corp. has set aside P8.06 billion as capital expenditure (capex) this year to partially finance the expansion of an existing expressway and the construction of a new toll road.
SMC SLEX Inc. said a significant portion of the capex will go towards the TR4 project, a 66.74-kilometer toll road connecting Sto. Tomas, Batangas to Lucena City, Quezon.
Upon completion in 2026, the P50 billion project will significantly reduce travel time between the points from three hours at present to just 45 minutes.
The toll road will be divided into six sections starting with the stretch from Sto Tomas, Batangas to Makban in Laguna (11.32 kilometers); Makban to San Pablo City (12.75 kilometers); San Pablo to Tiaong in Quezon (7.5 kilometers); Tiaong to Candelaria (15 kilometers); Candelaria to Tayabas (10.21 kilometers); and Tayabas to Lucena (9.96 kilometers).
The funds will also be used to widen the South Luzon Expressway (SLEX), improve traffic flow and boost the capacity of this vital expressway.
SMC SLEX earlier reported net income of P4.17 billion in 2023, higher than only P3.48 billion the previous year.
Toll revenue amounted to P7.05 billion, an increase of 10 percent from P6.44 billion in 2022.
SLEX spans across 36.1 km from Alabang, Muntinlupa to Sto. Tomas, Batangas. It is one of three expressways that link Metro Manila to the key southern provinces of the Philippines including Cavite, Laguna, Batangas, Rizal and Quezon (Calabarzon).
