Tarlac- la Union Toll Expressway (TPLEX) - Phase 1

active

In July 2011, Private Infra Dev Corp. (PIDC) secured financing for the 88.15km Tarlac-Pangasinan-La Union Toll Expressway (TPLEX) between Baguio City and Manila to be developed under a build-own-transfer contract. The TPLEX was to be developed in two phases: Phase I would entail a 2-lane express way between Tarlac to Rosario, La Union and Phase II would cover the widening of the road to 4 lanes when Phase II would reach 25,000 vehicles per day. The estimated project cost was US$290 million. Government support amounts to US83.8 million (right-of-way worth P793million; and a cash subsidy of P2.9billion) Financing, secured in July 14, 2011, comprises of a 10-year credit facility of US$267.44 million (P11.5 billion) arranged by Banco de Oro Unibank. The bidding for this project took place in November 2007, and PIDC was issued a notice of award in February 2008. The notices to proceed with the construction of phase I (in the sections were ROW was secured) were issued in in July 2010, Novemeber 2010 and January 2011. The road was expected to be operational in 2016. As of October 2012, section one was 68.95% complete. capital grants = value of right of way