San Miguel Holdings Eyes Pasig River Expressway and New SLEX Toll Road
San Miguel Holdings Corp. (SMHC) is in talks with the government to build two new road projects seen to ease traffic both within and outside Metro Manila, according to the Department of Transportation.
The project, first reported on Businessworld and later confirmed by San Miguel in a disclosure to the Philippine Stock Exchange, will both be declared toll roads based on the proposal submitted by the joint venture of the Philippine National Construction Corporation (PNCC) and SMHC.
The first project, called Pasig River Expressway (PAREX), is a six-lane elevated expressway that will connect Manila to Rizal province. Measuring 19.37 kilometers, the road will start on Radial Road 10 in Manila and end at a connection to the Southeast Metro Manila Expressway at C6.
The entire project is seen to cost P95.41 billion and will have three segments: R10 to Plaza Azul, Plaza Azul to San Juan River, San Juan River to C5 Intersection, and C5 Intersection to C6 Intersection.
The first segment of the project will cost P25.5 billion and will have and estimated construction period of 24 months.
The other project is the four-lane, 420-kilometer South Luzon Expressway Toll Road 5 that will start from Barangay Mayao, Lucena City in Quezon and end in Matnog, Sorsogon, near the Matnog Ferry Terminal.
The toll road will have eight segments: Lucena to Gumaca, Gumaca to Tagkawayan, Tagkawayan to Sipocot, Sipocot to Naga City, Naga City to Polangui, Polangui to Legazpi City, Legazpi City to Sorsogon, and Sorsogon to Matnog.
SMHC said the first segment is estimated to cost P26.3 billion and will take 24 months to complete.
The projects are under a joint venture between SMHC, a wholly owned subsidiary of San Miguel Corp, at 90 percent, and the PNCC, 10 percent.