NextGen Day

According to the Department of Finance (DOF), the PHP23.4 billion, 59.4-kilometer Tarlac-Pangasinan-La Union Expressway (TPLEX) extension project will further boost economic development in Northern Luzon.

The administration of President Ferdinand R. Marcos Jr. is determined to reduce bureaucratic red tape and streamline government procedures, as seen by the expeditious approval of the TPLEX Extension Project. This is essential to expediting urgently required infrastructure improvements, according to a statement released over the weekend by Finance Secretary Benjamin Diokno.

The TPLEX extension project was approved on Friday by the National Economic and Development Authority (NEDA) Board, presided over by President Marcos.

It took the shortest time ever for a public-private partnership (PPP) proposal to be evaluated and approved.

On March 23, the plan was presented to the Investment Coordination Committee and passed on to the NEDA Board.

The Department of Public Works and Highways was given authorization by the NEDA Board to start talks with the project’s original backer.

The DOF added clauses to the parameters, terms, and conditions to reduce contingent government liabilities in the event of concessionaire default to ensure a thorough and impartial appraisal process.

The TPLEX extension project is anticipated to reduce the distance between Rosario and San Juan, in the province of La Union, from 96 to 42 minutes.

The project is expected to be finished by 2028, with the first stretch between Rosario and Tubao expected to be operating by 2026.

The government has committed to supporting and advancing PPPs. This calls for an effective and flexible policy framework supported by accountability and transparency, according to Diokno.

2020 saw the completion of the 89.31-kilometer TPLEX connecting Rosario, La Union, to Tarlac City, Tarlac.

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