San Miguel Corp. on Wednesday signed a joint venture agreement with the provincial government of Batangas for the P44.77-billion Nasugbu-Bauan Expressway project.
The Batangas provincial government granted the company’s infrastructure arm, SMC Infrastructure, a 35-year concession to design, build, operate and maintain the four-lane, 61-kilometer toll road which SMC president and chief executive Ramon Ang described as “a project that will further unlock the economic potential of Batangas.”
Ang said NBEX is a vital infrastructure initiative in Southern Luzon that would improve travel across towns throughout Batangas, particularly the first district. Once completed, it will make Nasugbu, Balayan, Lemery, Bauan, the city of Calaca and other municipalities more accessible.
Transportation of people and goods will be easier, faster and more efficient resulting in lower cost of business and higher economic activity, he said.
Ang said NBEX would cut travel time by half between Nasugbu to Bauan, Batangas from 1.5 hours to just 45 minutes. It will also reduce the usual five-hour trip to and from Manila to two hours.
NBEX, which begins in Barangay Kaylaway, Nasugbu town, runs parallel to Tagaytay-Nasugbu and Palico-Balayan highways.
The terminus of NBEX in Barangay Kaylaway connects the expressway to another SMC Infrastructure project–the Cavite-Batangas Expressway which leads to Tagaytay City and Silang, Cavite.
The project has four sections, including the 10.78-km Section 1 that stretches from Kaylaway to Banilad in Nasugbu, the 13.03-km. Section 2 from Banilad to Balayan town, the 16.3-km. Section 3 from Balayan to Lemery and the 20.79-km. Section 4 from Lemery to Bauan.
“This project will drive a lot of development for our province and for our towns here in the first district,” said Batangas Governor Herminilando Mandanas.
And said the substantial completion is expected in 48 months, including the 12-month development of the detailed engineering design.
“NBEX is an exciting opportunity for us to come together once again and work towards our common goal of building a better future for our beloved Batanguenos. We look forward to working with Governor Mandanas and the rest of the province’s leaders and stakeholders to make this a reality,” he said.
NBEX is the latest addition to the growing infrastructure portfolio of SMC, the country’s most diversified conglomerate. Aside from NBEX, SMC operates the Tarlac-Pangasinan-La Union Expressway, the Skyway System that connects Balintawak to Makati through an elevated expressway, the South Luzon Expressway and the Southern Tagalog Arterial Road Tollway.