Skyway Stage 3 still toll-free but SMC raises financial concerns

Updated Feb 23, 2021 | Same topic: Latest Traffic Updates

The company needs to fulfill its obligations to its debtors.

The Skyway Stage 3 is still waiving toll fees as it waits for the approval of the Toll Regulatory Board (TRB) in regards to its proposed toll rates. However, San Miguel Miguel Corporation (SMC) president and chief operating officer Ramon S. Ang raised financial concerns about the matter.

In a report by GMA News, Ang said that SMC will still not be charging toll fees for motorists that use the Skyway Stage 3 as long as the company can afford it. However, Ang explained that SMC is having financial concerns since it also needs to fulfill its obligations to its debtors.

Ang further said that SMC applied for a loan to aid the company’s construction of the Skyway Stage 3. He added that banks are asking SMC as to when will it start collecting toll fees so that the company can start paying its loans.

>>> Related: DOTr bares reason why SMC still can’t charge toll for Skyway Stage 3 usage

Skyway Stage 3

Skyway Stage 3

The cost of the project’s construction amounts to Php 66.1 billion. SMC also paid for right-of-way settlements reaching Php 4.1 billion. 

The 18-km elevated expressway has been free to use since its formal opening last January 15, 2021. Previously, SMC announced that toll rates would start to be effective by February 1, 2021.

However, SMC has yet to get the approval of the TRB in regards to its proposed toll rates. The proposed toll rates submitted by SMC ranges from Php 110 to Php 274 for Class 1 vehicles. 

Skyway Stage 3 Quick Look: 22-minute drive from NAIAX to Balintawak

>>> Related: SMC working on Skyway Stage 3, NLEX Connector road link

The Skyway Stage 3 connects the South Luzon Expressway (SLEX) and Skyway to the North Luzon Expressway (NLEX). The Skyway Stage 3 is said to reduce travel time from SLEX to NLEX from around three hours to just 20 minutes. Moreover, it will only take you 15 minutes to reach Balintawak if you’re coming from Magallanes in Makati City.

Visit Philkotse.com to get more of the latest updates on Skyway Stage 3.

Martin Aguilar

Martin Aguilar

Author

Martin is the Content Editor of Philkotse. His love for cars first started when he got a remote-controlled toy as a birthday present. Then, Martin’s interest in cars was further developed through his family’s humble collection of Japanese cars.

Martin started his writing career as an editorial assistant and writer for various magazines under ABS-CBN Publishing. Before joining Philkotse, Martin was a writer for Autoindustriya then shifted gears in 2017 to become the editor for AutoDeal.

Aside from his interest in cars, Martin loves to read crime-thriller novels, play basketball in the virtual world, eat tapsilog, and go for random road trip adventures.

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