The Market Monitor Minding the Nation's Business
By Rose de la Cruz
Just last March 19, San Miguel Corp. confirmed it was dropping the Pasig River Expressway (PAREX) project (which made environmental groups so jubilant and victorious). But on Sunday, media reported that PAREX will begin by 2025 after the conglomerate obtains clearances from the Department of Environment and Natural Resources, said the Toll Regulatory Board.
This comes despite previous concerns about the project’s environmental impact.
TRB Executive Director Atty. Alvin Carullo said SMC remains committed to the project and is working to obtain the necessary environmental permits. “As long as they comply with the clearance requirements, the project is active,” he explained.
Environmental groups had previously voiced their opposition to PAREX, raising doubts about its future. However, Carullo clarified that SMC must submit final engineering plans by October to move forward. Construction could begin by 2025, reported business blog site, Bilyonaryo.
The proposed 19.37-kilometer PAREX will be a six-lane elevated expressway along the Pasig River. It will connect Radial Road 10 in Manila to the South East Metro Manila Expressway at Circumferential Road 6. The project also includes using a 2.7-kilometer portion of Skyway Stage 3.
SMC has already invested P2 billion to clean up the Pasig River and incorporate sustainable features like a bus rapid transit system, bicycle lanes, and pedestrian walkways.
SMC said it would start the construction of its P95-billion PAREX project next year or once the company gets an environmental compliance certificate (ECC), said TRB’s Carullo based on a letter submitted to him. “As of now they are not abandoning the project. It is a live project.”
SMC is finalizing the final engineering drawings of the project that are expected to be completed by October. But first it must submit the final detailed engineering plan for PAREX,” Carullo told reporters.
The TRB said San Miguel must also redesign the project to ensure heritage structures are not affected, Business World quoted Carullo.
“When the Office of the President approved the project there were some conditions,” he said.
“For example, the original design will pass through Malacañang, but there are restrictions, so they have to redesign the main alignment.”
San Miguel has yet to submit its target construction date because it is still trying to secure all permits.
Carullo said the main problem now is the environmental clearance certificate and other permits aside from seeking from us notice to proceed.
PAREX is expected to provide an alternative and faster link to Metro Manila’s largest business districts such as the Makati Business District, Ortigas Center, and Bonifacio Global City.
Last March SMC chief Ramon S. Ang said they were no longer pursuing the PAREX toll road after hearing out public opinion. He said: “We are very sensitive [to] the opinion of the public. If the public think that it is not good [for] the public welfare, we will not do it anymore.”
The 19.37-kilometer PAREx project is a six-lane, elevated toll road passing through the Pasig River from Radial Road 10 in Manila and proposed South East Metro Manila Expressway at Circumferential Road 6.