Metro Manila (CNN Philippines, September 24) — San Miguel Corporation has broken ground on its multibillion-peso Pasig River Expressway (PAREX), which seeks to link the eastern and western cities of Metro Manila.
“I’m very proud that we have this once-in-a-lifetime opportunity to provide an inclusive, future-ready solution to traffic, and at the same, restore the Pasig River back to its old glory,” SMC president and chief executive officer Ramon S. Ang said in a statement on Friday.
The ₱95-billion project, which is solely funded by SMC, will be a six-lane elevated expressway that will run along the banks of the river, from Radial Road 10 in Manila to C-6 Road or the South East Metro Manila Expressway inTaguig City.
It will also feature a bus rapid transit system, dedicated bike lanes, and pedestrian walkways.
Once the 19.37-kilometer expressway opens to the motoring public, it will reduce travel time between Manila and Rizal province from two hours to only 15 minutes.
Earlier this week, the tycoon said the construction may begin by the first quarter of 2022.
READ: Pasig River Expressway construction may begin early 2022
Ang is targeting to complete the project before 2027 or within five years.
Aside from PAREX, San Miguel is also investing ₱2 billion to rehabilitate the Pasig River. After the cleanup, it hopes the river can be safely used again as an alternative mode of transportation, utilizing watercraft or water ferries.
“This is a private investment. We will spend our own money, so we will not build something that will not be beneficial to the public. We are not the type of people who will build something that will be bad for the public, the environment, and our country, for the sake of profits,” Ang said in response to the project’s critics.
“In fact, we are investing a lot of money and other resources for these projects, even if the returns will take a while—because our country needs them,” he added.
