South Luzon Tollway Corporation


SLTC was incorporated in the Philippines on July 26, 2000 primarily to engage in the rehabilitation, construction and expansion of the South Luzon Expressway (“SLEX”) from the Alabang Viaduct to Lucena, Quezon, and other allied businesses such as the upgrading, replacing, and enlarging, repairing improving, modernizing, developing, or otherwise engaging in any work upon the toll roads, including all approaches, interchanges, overpasses, bridges, toll plazas, sewerage and drainage system, and related civil works, and for such purpose provide the necessary site survey, traffic studies and investigations, materials and equipment, and supply, and install a toll collection system for the toll roads, traffic toll and data management system, weighing sensors, central computers, CCTV systems and related equipment, without engaging in activities or the operation of a public utility except contracts for construction of locally-funded government projects.

On February 1, 2006, the Republic of the Philippines (“ROP”) thru the TRB (the “Grantor”) awarded to SLTC a 30-year concession ending in February 1, 2036, to finance, design and construct the toll road, and to Manila Toll Expressway Systems, Inc. (“MATES”) the concession to operate and maintain the toll road.

SLTC is an 80%-owned entity of MTDME; a domestic corporation engaged in general construction, project management and administration. ROP owns the remaining 20% of the shares in SLTC.

The ultimate parent company of SLTC is San Miguel Holdings Corp. (“SMHC”), a 100.0% owned subsidiary of San Miguel Corporation (“SMC”). SMHC owns 95.0% of Atlantic Aurum Investments, B.V. (“AAIBV”), a company incorporated in the Netherlands which in turn owns 100.0% of MTDME.

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The SLEX Concession

SLTC is the concessionaire of the SLEX which currently spans 36.1 km from Alabang, Muntinlupa to Sto. Tomas, Batangas. The SLEX is one of the three major expressways that links Metro Manila to the key southern provinces of the Philippines, including CALABARZON. To the north of the SLEX is the Skywaysystem, and to the south is the Southern Tagalog Arterial Road (“STAR”).SLEX connects with Skyway System and STAR and is a key logistical backbone to the southern corridor of Metro Manila.

SLEX is composed of four project toll roads, three of which are currently operational. Under the concession, each project toll road required rehabilitation and/or construction works of the different segments of SLEX:

Project Toll Road 1 ("TR 1") : The Alabang Viaduct - 1.2 kms

TR1 involved the rehabilitation and upgrade of the Alabang viaduct which included the widening of theat-grade portion of the roads, retrofitting of the existing structure, and the replacement and expansion of the elevated portion from 6 to 8 lanes.

An illustration of the three tollways is seen on the map below:

Tollway Map

Source: SLTC Company Records

Project Toll Road 2 (“TR 2”): Expansion from Filinvest Exit to Calamba, Laguna – 27.3 kms

TR2 involved the widening of the SLEX segment between Filinvest exit and Sta. Rosa, Lagunafrom 4 to 8 lanes and segment between Sta. Rosa, Laguna to Calamba, Laguna from 4 to 6 lanes.

Project Toll Road 3 (“TR 3”): Extension of the SLEX to Sto. Tomas, Batangas – 7.6 kms

TR3 involved the construction of a4-lane roadway from Calamba, Laguna to Sto. Tomas Batangas. The construction of this section connected Metro Manila, SLEX, and STAR.


Project Toll Road 4 (“TR4”)

The STOA includes the extension of the operating toll roads from Sto. Tomas, Batangas to Lucena City, Quezon with a length of 57.6 km (4-lane toll road).