The tollway unit of San Miguel Corp. said Wednesday it is spending P6.74 billion to partially fund the construction of a toll road from Batangas to Quezon and the maintenance and building of additional toll plaza in South Luzon Expressway.
South Luzon Tollways Corp. said it would earmark P5.54 billion for the construction of TR4—a four-lane toll road from Sto. Tomas in Batangas to Lucena City, Quezon—and the widening of 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. The project is expected to be completed by 2024.
TR4 is a part of SLTC’s 30-year concession which will last until 2036.
SLTC also allocated P931.9 million for tollway facility improvement, replacement of various toll equipment and preventive maintenance for toll collection system/network enhancement project.