Why is San Miguel Not Building the P8.43 Billion Pasig River Expressway Anymore?

San Miguel Corp. will no longer pursue plans to build the multi-billion Pasig River Expressway (Parex). 

In a press conference, SMC president Ramon Ang said the company has decided to pull the plug on the project after stiff opposition from different sectors.

“I am the kind of businessman that, when I see that our countrymen do not like the project, I won't continue with it,” Ang said.

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In 2021, SMC signed a supplemental toll operations agreement with the Department of Transportation (DOTr) and the Department of Public Works and Highways (DPWH) to build the PAREX. The project would have spanned 19.4 kilometers and cost P81.53-billion.

The supplemental agreement would have given SMC a 30-year franchise to build and operate the 19.4-kilometer Parex along the Pasig River banks within 36 months, connecting the eastern and western parts of the metropolis. 

The PAREX project would have had a six-lane elevated expressway built along the banks of the river. It would have started from Radial Road 10 (R10) in the City of Manila and will have ended at a connection to the South East Metro Manila Expressway (SEMME), otherwise known as Circumferential Road 6 (C6). It was seen to reduce travel time from Manila to Rizal to just 15 minutes. 

SMC envisioned PAREX to provide an alternative and faster access to the country’s largest business districts—Makati, Ortigas, and Bonifacio Global City. The comglomerate also said the project would have generated 200,000 direct and indirect jobs during its construction phase and throughout operations. 

But there were many who voiced opposition to the project, citing how it would have devastating consequences to the river, and the overall urban ecosystem of Metro Manila.

Ang said SMC’s decision to drop the project means the company is “listening to public opinion.” 

“We are very sensitive to the opinion of the public,” he said. “If the public thinks that it is not good for the public welfare, we will not pursue it.”