LINGAYEN, Pangasinan – The provincial government of Pangasinan will enter into a joint venture agreement with San Miguel Holdings Corporation for the proposed Pangasinan Link Expressway Project.
The Sangguniang Panlalawigan, during its regular session on Monday, authorized Governor Ramon Guico III to sign the agreement following the provincial government’s receipt of an unsolicited joint venture proposal from the firm in March.
Vice Governor Mark Ronald Lambino said in an interview that the agreement will provide a better and safer road network in the Ilocos Region, expedite the development of new growth centers and industries, and boost economic growth in the province.
“They proposed a 42-kilometer project from Binalonan town to Lingayen town traversing eight municipalities in Central Pangasinan,” Lambino said.
The project is expected to shorten travel time from Tarlac-Pangasinan-Expressway to Lingayen town from 90 minutes down to half an hour or less, he said.
“This will also spur economic growth along areas of development of the expressway,” he added.
Although the provincial government has already committed PHP1 billion for the acquisition of land, the project will be fully subsidized by the lone proponent, Lambino said.
“It is the only proponent who submitted proposal. Maliban sa pagtayo ng mga kalsada at pagganda ekonomiya, ang kagandahan sa proyekto, kapag natapos ang kontrata ng proyekto ay magiging pagmamay-ari na ito ng probinsya (Aside from the road networks and boost in the economy, once the contract of the project expires, it will be a property of the province),” he said.
Based on the timeline set by the proponent, the project will commence six months after the agreement signing and publication, he said. (PNA)