Business

SMC unit allots P6.7B for Quezon tollroad, SLEX improvements

South Luzon Tollway Corp., a subsidiary of conglomerate San Miguel Corp., is spending P6.74 billion this year to partly fund the construction of a tollroad from Batangas to Quezon as wells as additional toll plaza along the South Luzon Expressway.

Of the total, P5.54 billion will go to TR4, a four-lane toll road from Sto. Tomas in Batangas to Lucena Quezon.The P26.1 billion toll road will shorten the travel time from Sto. Tomas, Batangas to Barangay Mayao in Lucena City from the usual three hours to just 45 minutes.

Targeted for completion in 2024, TR4 forms part of SLTC’s 30-year concession which will last until 2036.

SLTC likewise budgeted P931.9 million for tollway facility improvement, replacement of various toll equipment, preventive maintenance for toll collection system/network enhancement project.

The remaining P268.3 million will be spent for asphalt, resurfacing, pavement, and bridge repair, restoration of toll facilities.

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