San Miguel, Pangasinan ink deal for P34B expressway

San Miguel Holdings Corporation (SMHC) and the Pangasinan provincial government have signed a joint venture and tollway concession agreement for the P34 billion Pangasinan Link Expressway (PLEX) project.

The PLEX project, which aims to create a seamless link to the soon-to-be-launched New Manila International Airport (NMIA) in Bulacan, is 76.80 kilometers long.

The first phase of the expressway will be divided into three segments: 6.9 kilometers from Binalonan to Manaoag, 11.30 kilometers from Manaoag to Calasiao, and 22.17 kilometers from Calasiao to Lingayen.

This project is expected to shorten travel time from the Tarlac-Pangasinan-La Union Expressway exit in Binalonan town to Lingayen from 90 minutes to half an hour or less.

SMHC will finance the entire construction cost, with no expense to the national or provincial governments.

The Pangasinan local government will receive a 5 percent share in the toll and commercial development revenues.

The PLEX project is envisioned to enhance the road network in Central and Northern Luzon and will connect to the New Manila International Airport (NMIA) in Bulacan.