Business

SMC tollway unit sets P6.7B capital spending next year

South Luzon Tollways Corp., a unit of San Miguel Corp., is alotting P6.74 billion next year for the construction of a four-lane toll road from Sto. Tomas in Batangas to Lucena Quezon.

Bulk or P5.54 billion of the programmed budget will go to TR4 as well as maintenance and building of additional toll plazas at the South Luzon Expressway.

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 upon its completion in 2024.

TR4 is a part of SLTC’s 30-year concession which will last until 2036.

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