Other Related Developments
The expressway is part of the Bases Conversion and Development Authority's Subic-Clark-Tarlac Expressway Project or SCTEP, which aims to connect the ecozones of Subic and Clark. The joint-venture of First Philippine Infrastructure Development Corporation (FPIDC), Tollways Management Corporation and Egis Projects, the same concessionaires of the North Luzon Expressway, will handle all the operations and maintenance of the expressway. First Philippine Infrastructure Development Corporation is a subsidiary of First Philippine Holdings, a holding company under the Lopez Group of Companies with core investments in power and tollways, and strategic initiatives in property and manufacturing. FPIDC eventually sold to Metro Pacific Investments Corporation in 2008. The four-lane divided highway is divided into two major sections. The first section, the Subic-Clark section is 50.5 kilometers long; the Clark-Tarlac section measures 43.27 kilometers long. Undertaking the construction for the first section are the Kajima-Obayashi-JFE Engineering-Mitsubishi (KOJM) Joint Venture and the second section under Hazama-Taisei-Nippon Steel (HTN) Joint Venture.
The total cost for the construction of the expressway is PhP 34.957 billion. It was sourced through a loan from the Japan Bank for International Cooperation (JBIC) amounting to ¥41.93 billion or Php23.06 billion-with an interest rate of 0.95% per annum.
P25.737 billion of the total project cost represents direct costs such as expenses incurred for the construction of the SCTEX. The indirect costs of P7.146 billion include land acquisition, consultancy services, project management expenses and taxes and duties. Financing costs of P2.074 billion include the Department of Finance guarantee fee and JBIC loan interest during the construction period. Toll Fees are approved by the Toll Regulatory Board (TRB)
Read more about this topic: Subic-Clark-Tarlac Expressway
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