CONSTRUCTION firm DMCI Holdings said it will build a portion of the Metro Manila Skyway Stage 3 (MMSS-3) after being awarded the 32-month engineering, procurement and construction (EPC) contract by a unit of San Miguel Corp. (SMC).
In a disclosure to the Philippine Stock Exchange on Monday, DMCI Holdings announced that its wholly-owned construction subsidiary, D. M. Consunji, Inc. (DMCI), “has been awarded the EPC contract for the Metro Manila Skyway Stage 3–Sections 1 and 2 by Citra Central Expressway Corp., a unit of San Miguel Corp.”
The Skyway Stage 3 project is a six-lane elevated toll expressway that will start at the end of Skyway Stage 1 located along Buendia in Makati City.
Section 1 involves the construction of a 3.7-kilometer highway from Buendia to Nagtahan in Manila and Section 2 covers the 3.5-kilometer stretch from Nagtahan to Ramon Magsaysay Boulevard, also in Manila.
MMSS-3, which has a total project cost of P26.65 billion, is envisioned to ease traffic in Metro Manila by linking the North Luzon Expressway and the South Luzon Expressway via an elevated toll road.
When completed in April 2017, it should cut travel time between Buendia in Makati and Balintawak in Quezon City from two hours down to 20 minutes.
Its entire length will be about 14.82 kilometers and the project also includes improvement works in selected at-grade sections. It is designed to pull in and ease traffic and access through eight strategically located interchanges with a total of 14 toll plazas, providing a choice corridor for Metro Manila intercity travelers.
Among the project benefits are to decongest EDSA and other major roads by as much as 55,000 vehicles daily based on initial projected patronage; additional road infrastructure at no cost to the government; and reduction of economic losses due to traffic congestion, which is estimated at P2.4 billion daily based on a study by the Japan International Cooperation Agency.
Project proponents also note that lesser vehicle operating costs and gasoline expenses, among others, will more than offset the cost of the toll fee, and that the project will provide direct employment of around 6,000 jobs during construction plus an additional 10,000 to 12,000 indirect jobs.
In addition, it is expected to result in less pollution, promote economic development, business expansion and tourism in and outside Metro Manila; offer more revenues to the government in the form of taxes; and provide increased safety and security during travel.
Based on the Supplemental Toll Operation Agreement covering Metro Manila Skyway Stage 3, the construction term of Stage 3 is 36 consecutive months from the effectiveness of the Notice to Proceed, which is February 10, 2015, when the conditions for the effectiveness of the NTP were fulfilled.
Cumulative physical accomplishment as of March 25, 2015 of the three Advance Works is 96.71 percent based on the combined total cost.