San Miguel Corp. (SMC), one of the Philippines' largest and most diversified conglomerates, has won a 35-year concession to design, build, operate and maintain a 61-kilometer (38-mile) toll road project in Batangas, Philippines.
The Nasugbu-Bauan Expressway (NBEX) project is expected to provide a faster connection between the eastern and western portions of Batangas. The Batangas provincial government granted SMC Infrastructure the concession for the four-lane expressway on March 22, and the two parties signed a joint venture agreement for the $822 million public-private partnership project.
“Batangas province has always been very close to my heart,” said Ramon Ang, president and vice chairman of SMC. “It is home to many of our facilities. It has always been a valuable and reliable partner of San Miguel, and as such, it is vital to our efforts to support our national economy and uplift the lives of many Filipinos through regional development.”
After the