Diversified conglomerate San Miguel Corp. (SMC) has been granted a 35-year concession to design, build, operate, and maintain the P44.77-billion Nasugbu-Bauan Expressway (NBEX).
Ramon S. Ang, the company’s president, said the Batangas provincial government granted SMC Infrastructure the concession for the NBEX, a four-lane, 61-kilometer toll road that he said will “further unlock the economic potential of Batangas.”
“I’m glad that our company will have another opportunity to further strengthen our collaboration with Batangas, through the NBEX, and ensure that its benefits are shared broadly,” Ang said.
“We have committed to deliver 70 percent of the project’s profits to the local government, once it’s operational, to be used to provide vital services for our kababayans in the province. This will be key to furthering the growth of the province and improving lives and livelihood.”
SMC and the Batangas provincial government signed on Wednesday the joint venture agreement for the project in a ceremony held at the Balayan Government Center.
NBEX aims to improve travel across towns throughout Batangas, particularly the first district. Once complete, it will make Nasugbu, Balayan, Lemery, Bauan, the City of Calaca, and other municipalities, more accessible.
The project has four sections: Section 1 is a 10.78-km segment that stretches from Brgy. Kaylaway to Brgy. Banilad in Nasugbu town; Section 2 is a 13.03-km segment from Brgy. Banilad to Balayan town; Section 3 is a 16.3-km segment from Balayan to Lemery, and Section 4 is a 20.79-km segment from Lemery to Bauan.
Cutting travel time from 1.5 hours to 45 minutes, NBEX will run parallel to Tagaytay-Nasugbu and Palico-Balayan highways.
And said target for substantial completion of the project is at 48 months, including the 12-month development of the detailed engineering design.
Aside from NBEX, SMC operates the Tarlac-Pangasinan-La Union Expressway, the Skyway System, the the South Luzon Expressway, and the Southern Tagalog Arterial Road Tollway.