Pangasinan Link Expressway (PLEX), phase I

active

"The project comprises the construction of Pangasinan Link Expressway in the Philippines. Construction started on March 21st, 2024. The sponsor is San Miguel Holdings Corp. (SMHC), a subsitiary of San Miguel Corporation. The project costs about $611.2 m (According to the exchange rate by the time of the provincial government approval of the concession agreement on July 10th, 2023.) or PHP34 billion. It will be funded by San Miguel Holdings Corp. The San Miguel Holdings Corporation submitted its unsolicited proposal to the joint venture selection committee, approved (Notice of award) on May 31st, 2024. Construction started five months after officials of Pangasinan’s provincial government and San Miguel Holdings Corp. (SMHC) signed the joint venture and tollway concession agreements (Oct.19, 2024). Under the concession agreement, the province will be entitled to a 5 percent share in the toll revenue and commercial development revenues of the project from the start of the concession period. The provincial government is also entitled to the 30 percent of the earnings before taxes after the proponent has exceeded a project internal rate return (PIRR) of 10 percent. If the PIRR exceeds 12 percent, the province will share 70 percent of earnings before tax. The total length of the route of the first phase is 42.76 km. The project will connect the province’s eastern and western parts. PLEX would also connect to TPLEX and provide access to the planned New Manila International Airport in Bulacan. Phase one has three main sections – the 7-km. stretch from Binalonan to Manaoag, the 11.3-km. stretch from Manaoag to Calasiao, and the 22.1-km. stretch from Calasiao to Lingayen, which will also have a 2.4-km. spur road in Calasiao town. The project’s phase 2 would extend to Alaminos City. Once completed within the targeted four- to five-year construction period, the first phase of the expressway is expected to shorten travel time from the TPLEX exit in Binalonan town to Lingayen from 90 to 30 minutes or less." https://www.sanmiguel.com.ph/news/smc-pangasinan-ink-historic-jva-for-plex-to-boost-economy-and-connectivity-in-central-northern-luzon ; https://www.pna.gov.ph/articles/1221274 ; https://www.skyscrapercity.com/threads/pangasinan-link-expressway-plex-u-c.2394510/ ; https://ppp.gov.ph/project_advisories/notice-of-award-tarlac-pangasinan-la-union-expressway-tplex-extension-project/ ; https://www.sanmiguel.com.ph/storage/files/reports/PSE-SMCsigns_deals_on_76.8-km_Pangasinan_Link_and_SEC_okays_P100B-SMC_vista_Land_public_offerings_(10.20.2023).pdf https://www.sanmiguel.com.ph/news/smc-pangasinan-ink-historic-jva-for-plex-to-boost-economy-and-connectivity-in-central-northern-luzon ; https://www.pna.gov.ph/articles/1221274 ; https://www.skyscrapercity.com/threads/pangasinan-link-expressway-plex-u-c.2394510/ ; https://ppp.gov.ph/project_advisories/notice-of-award-tarlac-pangasinan-la-union-expressway-tplex-extension-project/ ; https://www.sanmiguel.com.ph/storage/files/reports/PSE-SMCsigns_deals_on_76.8-km_Pangasinan_Link_and_SEC_okays_P100B-SMC_vista_Land_public_offerings_(10.20.2023).pdf