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Private infrastructure investments

Toll roads, airports and bridges financed by private companies under public-private partnerships (PPP), unsolicited proposals and toll concessions. Government still grants the rights, approves tolls and often pays for right-of-way, so these deals involve public money and public assets. Each figure links to its source. Notes flag gaps or changes in published figures for follow-up; they are not findings of wrongdoing.

14 projects · sources checked Oct 30, 2026.

Featured · announced Oct 29, 2026

Balintawak–Bocaue elevated expressway (proposed “NLEX Air”)

Under evaluation

Proponents
Metro Pacific Tollways Corp. (MVP group, via NLEX Corp.), coordinating with San Miguel Corp. (SMC group)[1][2][3]
Announced investment
₱120 billion[1][3]
Mode
Private toll-road proposal; NLEX Corp. says it filed a project information memo with the TRB and PPP Center. Formal PPP mode not yet published.[4]
Government counterpart
Toll Regulatory Board (TRB), grantor of the existing NLEX concession[4][2]
Toll rates
Not yet disclosed[1]

Stage history

  1. Aug 30, 2024 · MPTC sources describe “NLEX Air,” an elevated road from Balintawak Toll Plaza to Tambubong Interchange, ballpark ₱70 billion from conceptual design; awaiting TRB approval.[5]
  2. Oct 26, 2026 · NLEX Corp. says its project information memo and plan were submitted to the TRB and PPP Center and are “under review,” for about ₱120 billion worth of projects.[4]
  3. Oct 29, 2026 · President Marcos announces the ₱120 billion elevated road from Balintawak to Bocaue above NLEX, with the MVP and SMC groups asked to work together. No timetable given.[1][3][2]

Worth a closer look

The cost figure rose from a ₱70 billion conceptual estimate (2024) to the ₱120 billion announced in 2026. NLEX Corp.’s Oct 26 remarks describe ₱120 billion as a package “of projects,” so it is not yet clear how much is the elevated road alone.[5][4]

Length reported as about 17 km, six lanes, with no intermediate exits (PIA). Construction timetable, approvals and toll terms have not been published.[6][1]

Related: NLEX Harbor Link Segment 8.2 (opened the same day) · Government projects in Bocaue, Bulacan

All tracked projects

ProjectPrivate partyCostStage
Balintawak–Bocaue elevated expressway (proposed “NLEX Air”)Metro Pacific Tollways Corp. (MVP group, via NLEX Corp.), coordinating with San Miguel Corp. (SMC group)₱120 billionUnder evaluation
NLEX Harbor Link Segment 8.2 (Mindanao Ave–C5)Manila North Tollways Corp. (now NLEX Corp., Metro Pacific Tollways)₱11.50 billion (civil works); right-of-way paid by government listed separatelyPartly open
NAIA rehabilitation and operation PPPNew NAIA Infra Corp. (San Miguel Holdings, RMM Asian Logistics, RLW Aviation Development, Incheon International Airport Corp.)₱170.6 billion (incl. maintenance capex over the concession)Awarded / contract signed
SLEX Toll Road 4 (Sto. Tomas–Lucena)SMC SLEX Inc. (formerly South Luzon Tollways Corp., San Miguel)₱58.42 billion (excluding Package F)Under construction
SLEX Toll Road 5 (Lucena–Matnog)South Luzon Toll Road 5 Expressway Corp.₱22.6 billion (Segment 1 only; full road ~420 km)Pre-construction
Pasig River Expressway (PAREX)San Miguel Holdings Corp. (SMHC)₱95.4 billion, plus ₱4.142 billion right-of-wayStatus unclear / on hold
Boracay Bridge (Caticlan–Boracay)SMC Boracay Connector Inc.₱7.780 billion (incl. financing cost)Awarded / contract signed
Metro Manila Skyway Stage 3Citra Central Expressway Corp. (CCEC)₱55.63 billion latest estimate (original ₱37.43 billion; revised ₱44.86 billion)In operation
Cavite–Laguna Expressway (CALAX)MPCALA Holdings Inc. (Metro Pacific Tollways)—Partly open
TPLEX Extension (Rosario–San Juan, La Union)Original proponent of the unsolicited proposal (not named in the sources checked)₱23.4 billionSwiss / comparative challenge
C5 South Link Expressway (Segments 2 and 3)Cavitex Infrastructure Corp. (Metro Pacific Tollways)₱12.645 billionPartly open
NLEX–SLEX Connector RoadManila North Tollways Corp. (NLEX Corp.)—Partly open
Southeast Metro Manila Expressway (SEMME / C-6)SMC Skyway Stage 4 (formerly Citra Intercity Tollways Inc.)—Under construction
NLEE La Mesa Parkways Stage I (Commonwealth–Norzagaray)Ausphil Tollways Corp.₱15.10 billionStatus unclear / on hold

NAIA rehabilitation and operation PPP

Awarded / contract signed

Concessionaire
New NAIA Infra Corp. (San Miguel Holdings, RMM Asian Logistics, RLW Aviation Development, Incheon International Airport Corp.)[9][8]
Project cost
₱170.6 billion (incl. maintenance capex over the concession)[10][8]
Mode
Solicited PPP, Rehabilitate-Operate-Expand-Transfer[10][8]
Implementing agencies
DOTr and Manila International Airport Authority[9]
Payments to government
₱30 billion upfront, ₱2 billion a year, 82.16% of gross revenue excluding passenger service charges[8]
Concession period
15 years, extendable by 10[9][10]

Stage history

  1. Jul 19, 2023 · NEDA Board approves the project.[8][10]
  2. Feb 16, 2024 · MIAA board awards to the SMC-SAP consortium, highest bid: 82.16% revenue share.[8]
  3. Mar 18, 2024 · Concession agreement signed in Malacañang.[9][8]

SLEX Toll Road 4 (Sto. Tomas–Lucena)

Under construction

Concessionaire
SMC SLEX Inc. (formerly South Luzon Tollways Corp., San Miguel)[11]
Estimated cost
₱58.42 billion (excluding Package F)[11]
Mode
Toll concession (SLEX Phase II)[11]
Regulator
Toll Regulatory Board (target dates from TRB status report)[11]

Stage history

  1. Mar 2019 · Construction begins.[12]
  2. Jul 22, 2026 · DOTr targets partial operation (Packages A–C) in Nov–Dec 2026.[12]
  3. Sep 22, 2026 · Construction: Pkg A 47.3%, B 78.5%, C 96.9%, D 10.1%, E 17.3%; Pkg F not started.[11]

SLEX Toll Road 5 (Lucena–Matnog)

Pre-construction

Private partner
South Luzon Toll Road 5 Expressway Corp.[13]
Estimated cost
₱22.6 billion (Segment 1 only; full road ~420 km)[13]
Mode
Supplemental Toll Operation Agreement (STOA)[13]
Implementing agency
Toll Regulatory Board[13]

Stage history

  1. Jun 27, 2022 · STOA approved by the Office of the President.[13]
  2. Jan 29, 2026 · TRB releases the approved final engineering design (Packages 1–4).[13]

Pasig River Expressway (PAREX)

Status unclear / on hold

Proponent
San Miguel Holdings Corp. (SMHC)[14]
Estimated cost
₱95.4 billion, plus ₱4.142 billion right-of-way[14]
Mode
Supplemental Toll Operations Agreement (STOA)[14]
Implementing agency
Toll Regulatory Board[14]

Stage history

  1. May 27, 2024 · SMC informs the TRB that the PAREX STOA remains in full force, pending any approved withdrawal.[14]
  2. Sep 22, 2026 · Concessionaire finalizing engineering drawings to harmonize the alignment with government waterfront developments.[14]

Worth a closer look

The briefer refers questions on status to the TRB; no construction start date is published.[14]

Boracay Bridge (Caticlan–Boracay)

Awarded / contract signed

Concessionaire
SMC Boracay Connector Inc.[15]
Estimated cost
₱7.780 billion (incl. financing cost)[15]
Mode
Unsolicited PPP under RA 11966 (PPP Code), comparative challenge[15]
Implementing agency
DPWH[15]

Stage history

  1. Jan 24, 2025 · Project processed and approved.[15]
  2. Mar 11, 2025 · Tender documents released.[15]
  3. Sep 24, 2025 · Pre-bid conference.[15]
  4. Mar 10, 2026 · Comparative challenge period ends.[15]
  5. Mar 30, 2026 · Notice of Award issued.[15]
  6. May 2026 · Contract executed between DPWH and SMC Boracay Connector Inc.[15]

Metro Manila Skyway Stage 3

In operation

Concessionaire
Citra Central Expressway Corp. (CCEC)[16]
Construction cost
₱55.63 billion latest estimate (original ₱37.43 billion; revised ₱44.86 billion)[16]
Mode
Toll concession[16]
Regulator
Toll Regulatory Board[16]

Stage history

  1. Dec 29, 2020 · Partial opening.[16]
  2. Jan 14, 2021 · Inauguration and formal opening (10 ramps).[16]
  3. Jun 25, 2026 · 23 ramps open; remaining ramps targeted December 2026.[16]

Worth a closer look

The latest construction estimate is 49% above the original figure; the briefer attributes increases to the Section 2 realignment and as-built quantities.[16]

Cavite–Laguna Expressway (CALAX)

Partly open

Concessionaire
MPCALA Holdings Inc. (Metro Pacific Tollways)[17]
Cost
Not stated in the source checked
Mode
Solicited PPP, Build-Transfer-Operate; 35-year concession[17]
Implementing agency
DPWH[17]

Stage history

  1. Jul 10, 2015 · Concession agreement signed.[17]
  2. Oct 30, 2019 · Subsections 8, 7, 6 (Sta. Rosa–Mamplasan) open.[17]
  3. Aug 24, 2021 · Subsection 5 opens.[17]
  4. Nov 8, 2023 · Subsection 4 opens.[17]
  5. May 4, 2026 · Subsection 3 opens; overall 96.15% complete as of Sept 2026.[17]

TPLEX Extension (Rosario–San Juan, La Union)

Swiss / comparative challenge

Proponent
Original proponent of the unsolicited proposal (not named in the sources checked)[19]
Project cost
₱23.4 billion[18][20]
Mode
Unsolicited PPP with Swiss challenge[18][19]
Implementing agency
DPWH[18]

Stage history

  1. Mar 17, 2023 · Proposal submitted.[18]
  2. Jun 2, 2023 · NEDA Board approves; DPWH authorized to negotiate with the original proponent.[18][20]
  3. Nov 9, 2023 · NEDA Board approves revised terms; DPWH to invite comparative proposals.[19]

Worth a closer look

DOF said the first segment would be operational by 2026; we have not found a newer official status.[20]

NLEX–SLEX Connector Road

Partly open

Concessionaire
Manila North Tollways Corp. (NLEX Corp.)[22]
Cost
Not stated in the source checked
Mode
Toll concession[22]
Regulator
Toll Regulatory Board[22]

Stage history

  1. Sep 22, 2026 · Section 1 (5.15 km) complete; Section 2 at 99.62%, targeted 4Q 2026. Overall 99.88%.[22]

Southeast Metro Manila Expressway (SEMME / C-6)

Under construction

Concessionaire
SMC Skyway Stage 4 (formerly Citra Intercity Tollways Inc.)[24]
Cost
Not stated in the source checked
Mode
Toll concession[24]
Regulator
Toll Regulatory Board[24]

Stage history

  1. Sep 22, 2026 · Right-of-way site possession 92.658%; construction 5.415%.[24]

NLEE La Mesa Parkways Stage I (Commonwealth–Norzagaray)

Status unclear / on hold

Concessionaire
Ausphil Tollways Corp.[23]
Estimated cost
₱15.10 billion[23]
Mode
Unsolicited proposal using MWSS right-of-way; mode of implementation “still being clarified”[23]
Approving parties
TRB, DOTr and DPWH (per briefer)[23]

Stage history

  1. Sep 22, 2026 · Briefer says the project was approved and executed by the then TRB chair and secretaries, but the mode of implementation is still being clarified.[23]

How this list is built

  • Status, costs and dates come mainly from DPWH PPP Service project briefers (DPWH PPP index), plus PNA, DOF and dated news reports for announcements.
  • Costs are as published (nominal pesos, the source's own scope). Where a source gives no cost, we show none.
  • The PPP Center project database and TRB website were not machine-readable when checked; their entries will be added as they are verified.

Sources

  1. [1] Marcos: MVP Group to build P120-B elevated NLEX road · BusinessWorld, Oct 29, 2026
  2. [2] MPTC, San Miguel will build QC link to Bulacan–Marcos · BusinessMirror, Oct 29, 2026
  3. [3] MVP, SMC groups to invest P120-B for Balintawak-Bocaue elevated road network: Marcos · ABS-CBN News, Oct 29, 2026
  4. [4] NLEX Corporation itinutulak P120B expansion project para maibsan ang trapiko, baha · Abante TNT, Oct 26, 2026
  5. [5] P70 billion elevated road to decongest NLEX · Philstar, Aug 30, 2024
  6. [6] TRB suportado ang pagtatayo ng elevated NLEX Bocaue-Balintawak (PIA Region 3) · PIA via Punto! Central Luzon
  7. [7] NLEX Harbor Link Segments 8.2, 9 and 10 briefer · DPWH PPP Service, Sept 22, 2026
  8. [8] Recto: NAIA on its way to be one of the world’s best airports… signing of the PPP Concession Agreement · Department of Finance, Mar 18, 2024
  9. [9] NAIA deal to boost foreign investments in PH · Philippine News Agency, Mar 18, 2024
  10. [10] NAIA PPP Project information memorandum summary · World Bank PPP Resource Center
  11. [11] SLEX Phase II Toll Road 4 (TR-4) briefer · DPWH PPP Service, Sept 22, 2026
  12. [12] Portion of SLEx TR4 to be operational by year-end -- DOTr · Inquirer.net, Jul 22, 2026
  13. [13] SLEX Toll Road 5 (TR5) briefer · DPWH PPP Service, Sept 22, 2026
  14. [14] Pasig River Expressway (PAREX) briefer · DPWH PPP Service, Sept 22, 2026
  15. [15] Boracay Bridge Project briefer · DPWH PPP Service, Sept 25, 2026
  16. [16] Metro Manila Skyway Stage 3 briefer · DPWH PPP Service, June 25, 2026
  17. [17] Cavite-Laguna Expressway (CALAX) briefer · DPWH PPP Service, Sept 22, 2026
  18. [18] NEDA Board OKs TPLEX extension up to San Juan, La Union · Philippine News Agency, Jun 2, 2023
  19. [19] NEDA Board approves 3 more high-impact infra projects · Philippine News Agency, Nov 9, 2023
  20. [20] DOF: Swift approval of TPLEX Extension Project · Department of Finance, Jun 2023
  21. [22] NLEX-SLEX Connector Road Project briefer · DPWH PPP Service, Sept 22, 2026
  22. [23] NLEE La Mesa Parkways Project Stage I briefer · DPWH PPP Service, Sept 22, 2026
  23. [24] Southeast Metro Manila Expressway (SEMME/C-6) briefer · DPWH PPP Service, Sept 22, 2026
  24. [25] DPWH PPP projects index · DPWH