SMC SLEX Inc. is spending approximately P7.4 billion this year to partially finance the construction of an expressway from Batangas to Lucena and for the repair and maintenance of the South Luzon Expressway (SLEX).
The company said some P6.8 billion will finance the SLEX Toll Road 4 Project and the widening of SLEX itself.
The company in March 2019 started the construction of the 66.74-kilometer SLEX TR4 that would connect Sto. Tomas, Batangas to Lucena City, Quezon.
The toll road will shorten the travel time from Sto. Tomas, Batangas to Barangay Mayao in Lucena City from three hours at present to only 45 minutes when completed.
The P26.1-billion project is seen completed by 2026. TR4 is part of South Luzon Tollway Corporation’s 30-year concession that will last until 2036.
The toll road is divided into six sections to include Sto Tomas, Batangas to Makban in Laguna (11.32 km); Makban to San Pablo City (12.75 km); San Pablo to Tiaong in Quezon (7.5 km); Tiaong to Candelaria (15 km); Candelaria to Tayabas (10.21 km); and Tayabas to Lucena (9.96 km).
SMC SLEX allocated P102.4 million for road and facilities repair and P582 million for equipment acquisition for the toll collection system.
A total P1.26 billion has thus far been spent on the undertaking for periodic repair and restoration activities.
SMC SLEX booked a net income of P3.49 billion last year, up 33 percent from P2.62 billion in 2021.
Toll revenue amounted to P6.44 billion, an increase of 16 percent from P5.57 billion in 2021. This was also 3 percent above the pre-pandemic figure of only P4.55 billion.
In 2022, SLEX achieved an annual average daily traffic (AADT) of 376,267 higher by 12 percent from 2021 AADT of only 335,900.
This was 3 percent higher than the pre-pandemic figure of only 366,189 brought about by the increase in traffic flow and by the easing of mobility restriction to Alert Level 1 beginning 1 March 2022.
Volume increased across all vehicle classes with highest increase in class 1 and 2 by 13 percent and 10 percent, respectively.
The average transaction mode for the period was 73 percent RFID and 27 percent cash.
