SMC’s P55.87-B Skyway Stage 4 cost pending TRB approval – BusinessWorld Online
THE P55.87-billion estimated cost for the Southeast Metro Manila Expressway – Skyway Stage 4 Project remains subject to review and approval by the Toll Regulatory Board (TRB) and other government authorities, San Miguel Corp. (SMC) said.
Inflation, higher costs, and refinements in project scope have pushed the updated estimate from the P45.27 billion originally disclosed in 2019, the company told the local bourse on Tuesday.
“The increase is primarily attributable to inflation, updated unit costs, and refinements in project scope consistent with prevailing market conditions,” SMC said.
The figure reflects the current estimate of SMC Skyway Stage 4 Corp., the company’s concession unit for the project.
SMC noted that the increase does not change the fundamental nature, scope, or objectives of the project.
Skyway Stage 4, a 32.7-kilometer expressway, will be constructed in six phases.
Its first phase is expected to be completed within two years once right-of-way issues with the government are resolved.
The road will connect the Skyway system at Arca South in Taguig City to the Batasan Complex in Quezon City.
SMC said the expressway is expected to provide an alternate route for southern and eastern Metro Manila and ease traffic congestion along EDSA and C5. — Sheldeen Joy Talavera