The Toll Regulatory Board said it is in talks with San Miguel Corp. for the construction of two toll roads worth over P100 billion which would be completed over the next three years.
TRB, in a resolution dated June 29, classified South Luzon Expressway Toll Road 5 and Pasig River Expressway projects as toll roads upon the proposal submitted by the joint venture of Philippine National Construction Corp. and San Miguel Holdings Corp.
With the declaration of the two projects as toll roads, the Technical Working Group of the TRB, composed of representatives from the Department of Transportation, Department of Public Works and Highways, Department of Finance and the National Economic and Development Authority as well as the private sector, is now in discussion with the joint venture on the technical, financial and legal details of the two projects.
“The PNCC-SMHC Joint Venture requested that government to recognize the two projects as toll road project. These have their respective basic design plan. The TRB has given an instruction to the TWG to discuss the details of the project with the JV that will be the basis of the concession agreements. We are also waiting for the JV to submit certain requirements,” TRB executive director Abraham Sales said.