SAN Miguel Corp. (SMC) and the provincial government of Batangas have signed a joint venture agreement for the P44.77-billion Nasugbu-Bauan Expressway (NBEx) project.

The conglomerate's infrastructure arm, SMC Infrastructure, was given a 35-year concession to design, build, operate and maintain the proposed four-lane, 61-kilometer (km) toll road that SMC President and Chief Operating Officer Ramon Ang described as "a project that will further unlock the economic potential of Batangas."

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