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Manila: A new transport artery linking identified economic growth centres north of the capital was inaugurated yesterday by President Gloria Arroyo.
The Subic-Clark-Tarlac Expressway (SCTEX) aims to spur economic activity in the Central Luzon region, Arroyo said, as she took an inaugural drive-through a portion of 94 km highway.
Arroyo's inaugural drive signalled the roadway's "soft opening" to traffic.
The SCTEX is a vital component of the government's strategy to spur economic growth by developing the so-called "Super Regions" across the country.
Under the government master plan, several key provinces will be developed into centres of tourism, business and industry.
Loan grant
This soft opening, according to the president, covers the Subic-Clark portion of the SCTEX, which is some 50 km long.
Built at a cost of 27 billion pesos (Dh2.4 billion) - of which 23.06 billion pesos was funded through a loan grant from the Japan Bank of International Cooperation and the rest shouldered by the Bases Conversion Development Authority - the SCTEX serves as a critical link to vital business corridors in Central Luzon, such as the Subic seaport in Zambales and the Diosdado Macapagal International Airport in Pampanga.
Other economic zones within Subic, Clark and Tarlac areas are also expected to benefit greatly with the opening of the SCTEX.
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