Kalayaan Hall, Malacañan Palace
July 10, 2024
President Ferdinand R. Marcos Jr. is presented with the signed concession agreement for the Tarlac-Pangasinan-La Union Expressway (TPLEX) Extension Project in a ceremony at the Kalayaan Hall, Malacañan Palace on July 10, 2024.
Spanning 59.4 kilometers, the TPLEX Extension Project is a four-lane toll road with five (5) interchanges starting from the last exit of the TPLEX in Rosario, La Union until San Juan, La Union.
Once completed, the extension is expected to reduce travel time between Rosario and San Juan in La Union from the current 90 minutes or 1 ½ hour travel time to around 40 minutes, as well as provide new high-quality roadway infrastructure between the Ilocos and Cordillera Regions, Central Luzon and Metro Manila.
The TPLEX Extension Project is also seen to spur economic growth along the expressway corridor by encouraging the development or establishment of new growth hubs in Region I and nearby provinces.
Amounting to PhP23.36 billion, funding source of the Project is via a Public-Private Partnership (PPP) between the Department of Public Works and Highways (DPWH) and San Miguel Holdings Corporation (SMHC) with a project concessionaire, the SMC TPLEX Extension Infrastructure Corporation (STEIC), a Special Purpose Company (SPC) of SMHC.
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