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Manila Bulletin devider Business devider Trade & Industry devider P23-B TPLEX extension approved

P23-B TPLEX extension approved

Published Jun 3, 2023 05:55 am
The National Economic and Development Authority (NEDA) Board approved the P23.4-billion Tarlac–Pangasinan–La Union Expressway (TPLEX) Extension Project this Friday, June 2, 2023.
The entire evaluation and approval process for the 59.4-kilometer TPLEX Extension Project was the fastest approval for a public-private partnership (PPP) proposal.
The proposal was submitted to the Investment Coordination Committee (ICC) on March 23, 2023 and then elevated to the NEDA Board on June 2, 2023, where it was approved.
The NEDA Board gave the Department of Public Works and Highways (DPWH) permission to commence negotiations with the project’s original proponent.
The TPLEX extension will cut the travel time from Rosario to San Juan from 96 minutes to 42 minutes, spur the creation of new growth centers in the Ilocos Region, and bring about economic development along the expressway.

The first segment spanning Rosario to Tubao, La Union is estimated to be operational by 2026, while the entire project is to be completed by 2028.
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