Skyway Stage 4 just got a lot more expensive—and it’s a reminder that big-ticket infrastructure is no longer immune to today’s cost realities.
Philippine National Construction Corp. (PNCC), the listed tollroad builder and operator, said the estimated cost of the proposed Skyway Stage 4 has been revised upward by its project partner, San Miguel Corp., pushing the bill up by P10.6 billion. The new estimate puts total project cost at about P55.87 billion, from the previously disclosed P45.27 billion.
PNCC said the earlier figure was anchored on 2019 price levels, before inflation surged and construction inputs—from steel and cement to labor—became markedly more expensive. The company said the updated project cost reflects current prices, citing inflation, revised unit costs, and refinements in project scope aligned with prevailing market conditions.
The revised estimate is not yet final. PNCC noted that the updated cost will still be subject to review and approval by the Toll Regulatory Board and other relevant agencies, particularly because higher capital spending could have implications for future toll rates.
Skyway Stage 4 is envisioned as a 32.7-kilometer elevated expressway linking Metro Manila to the western section of Rizal province. Once completed, the project is expected to help decongest major arteries such as EDSA and C5, two of the country’s most notorious traffic bottlenecks. San Miguel has said the tollroad could handle around 150,000 vehicles daily and slash travel time from Bicutan to the Batasan area in Quezon City to 30 minutes, from as long as two hours today.
The cost increase underscores the growing challenge facing large-scale infrastructure projects, especially those initiated pre-pandemic. While updated pricing is hardly surprising given global and local cost pressures since 2019, it raises familiar questions about project viability, funding structures, and the balance between investor returns and affordable toll rates.
For San Miguel, which has built a reputation as the country’s most aggressive private-sector infrastructure developer, Skyway Stage 4 remains strategically important as it extends the Skyway network eastward. For PNCC, the revision highlights how pre-pandemic cost assumptions are being rewritten across the construction sector.
Ultimately, whether motorists will embrace the project may depend not just on faster travel times, but on how much more they are asked to pay for the privilege.
