The Philippines’ Bases Conversion and Development Authority (BCDA) has awarded Manila North Tollways Corporation (MNTC) the management contract for the longest expressway in the nation.

Under the contract, MNTC is expected to operate, manage and maintain the Subic-Clark-Tarlac expressway under a 25-year concession, renewable for another eight years.

MNTC will pay BCDA an estimated total of PHP64.4bn ($1.4bn) in lease concession fees from 2017 to 2043, according to

BCDA is also expected to transfer its toll operations to work on the expressway to MNTC for a semi-annual lease fee from 2010 to 2016.

The expressway is a 94km toll way constructed by BCDA using a concessional loan from the Japan International Cooperation Agency.