MANILA: Hopewell Holdings of Hong Kong is set to sign a 10.9 billion peso (about HK$3.16 billion) joint venture agreement with Philippine National Construction Corp (PNCC) to extend and upgrade a major highway in Luzon, the tollway operator says.

PNCC and Hopewell will jointly provide the funding for the project and will design and construct the highway in south Luzon, the company says.