In a disclosure to the Philippine Stock Exchange dated June 24, San Miguel Corporation (SMC) confirmed that the Pasig River Expressway (PAREX) project “is currently on hold, not officially canceled.”
SMC made the disclosure in response to recent comments by the Toll Regulatory Board (TRB): “As of now, they are not abandoning the project. It is a live project,” TRB executive director Alvin Carullo said last week.
ALSO READ:
PAREX: A bridge too far, or the missing piece of the infrastructure puzzle?
PAREX study still ongoing, according to SMC
In its statement, SMC said it is “conducting a detailed study to assess environmental impacts and public concerns of the PAREX project. This, and the concept submitted to the TRB for integrating a bus rapid transit system, bicycle lanes, and pedestrian walkways, are part of our compliance process.”
It adds that canceling the project entails following proper procedure, because it is a public-private partnership: “The project is governed by a binding agreement with the government, and terminating this agreement involves a detailed legal process.”
OTHER STORIES YOU MIGHT HAVE MISSED:
Full guide: Sucat Interchange of Cavitex C5 Link now open; here are the access points
Mitsubishi PH quietly introduces the ‘new’ Montero Sport
SMC clarifies Ang’s statement on PAREX project cancellation
The proposed 19.4km, six-lane elevated expressway received government approval in 2021. SMC began its Pasig River cleanup shortly after, purportedly as part of its environmental efforts but also in preparation for the tollway’s construction.
PAREX, however, has received strong opposition ever since the project was first made known to the public. Earlier this year, SMC president and CEO Ramon S. Ang was quoted saying the project will no longer push through: “If the public thinks that it is not a good idea to the public welfare, hindi namin gagawin yun.”
SMC’s latest disclosure now clarifies Ang’s remarks: “Mr. Ang did not state that the company is dropping the project. Rather, he mentioned that it has not been pursued due to opposition from some groups. SMC values public sentiment and has consistently emphasized that if the majority believes the project is not beneficial, it will not proceed.”
‘Significant support despite some opposition’
While SMC acknowledges the pushback to the project, it counters that “there is significant support from residents in Rizal and eastern Metro Manila who see the project’s potential benefits in improved transportation and economic opportunities.
“We are carefully evaluating and will weigh the needs and concerns of these opposing
views.”
Based on the details released in 2021, PAREX will have three major segments: Segment 1 from R-10 to Plaza Azul in Manila; Segment 2 from Pandacan to C5; and Segment 3 from C5 to C6. Ang said then that “it will be built along the banks of the Pasig River—not in the middle.”
Also being built along the banks river, however, is the Pasig River Esplanade, which is part of the current administration’s Pasig River Urban Development Project to rehabilitate the entire 25.2km length of the waterway. The project is currently divided into nine segments, and will feature commercial areas, bike lanes, walkways, green spaces, and an expanded ferry system.
