San Miguel taps DMCI for Skyway extension project
MANILA, Philippines – Diversified conglomerate San Miguel Corporation (SMC) has tapped construction firm DM Consunji (DMCI) as contractor for the P26.5 billion ($592.01 million) toll road project connecting the South Luzon expressway (SLEX) to the North Luzon expressway (NLEX).
DMCI Holdings Incorporated finance officer Brian Lim said in a disclosure to the Philippine Stock Exchange (PSE) that DMCI has been awarded the 32-month engineering, procurement, and construction (EPC) contract for the Metro Manila Skyway stage 3 project by SMC's Citra Central Expressway Corporation (CCEC).
SMC president Ramon S. Ang earlier said the project would decongest the major roads of Metro Manila, particularly EDSA and C5, and reduce travel time from Buendia to Balintawak in Quezon City to 20 minutes or less from two hours.
The project, which is expected to be completed in 2017, is also aimed to stimulate the growth of trade and industry in the southern, central, and northern Luzon areas.
The 6-lane elevated toll expressway starts at the end of Skyway stage 1 along Buendia in Makati City.
Sections 1 and 2 of the project were awarded to DMCI. Section 1 of the project involves the construction of a 3.7-kilometer (km) highway from Buendia to Nagtahan in Manila. Section 2 covers the 3.5-km stretch from Nagtahan to Ramon Magsaysay Boulevard.
Earlier in May, SMC's CCEC tapped EEI Corporation to undertake sections 3 and 4 of the toll road project. The elevated expressway project covers 14.82 kilometers from Buendia Avenue in Makati City to Balintawak in Quezon City, linking NLEX and SLEX through 8 strategic interchanges.
SMC’s San Miguel Holdings Corporation (SMHC), through Atlantic Aurum Investments BV (AAIBV,) incorporated Stage 3 Connector Tollways Holdings Corporation (S3HC) in February last year. AAIBV has a 55% stake in CCEC that holds a 30-year concession to operate, construct, and maintain Skyway Stage 3.
SMC also has interests in the Southern Tagalog Arterial Road (STAR) Tollway; the Ninoy Aquino International Airport (NAIA) expressway; and the P24-billion Tarlac – Pangasinan-La Union expressway stretching 88.85 kms from La Paz in Tarlac to Rosario in La Union through Private Infra Development Corporation (PIDC). (READ: San Miguel Corporation earmarks P168B for toll road projects)
Other infrastructure projects of SMC include the proposed Metro Rail Transit line 7 (MRT7) from San Jose del Monte in Bulacan to North EDSA in Quezon City and the Boracay Airport. – Rappler.com
$1 = P44.76
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