MANILA - San Miguel Corp on Tuesday said it hopes to finalize with the government its proposal to build an expressway along the Pasig River, and extend the South Luzon Expressway to Bicol.
The Toll Regulatory Board recently approved the designation of SMC’s proposed projects as toll roads. The government and San Miguel are now discussing the technical, financial, and legal details of a possible concession agreement. “Hopefully, we will be able to finalize with government and they will find our proposals favorable to the country. In the short to medium term, many of our people need jobs.
San Miguel said PAREX can be built in 36 months under a 30-year build-operate-transfer scheme. PAREX is expected to reduce travel time between R-10 to C-6 to just 15 minutes and directly connect the western and eastern cities of Metro Manila. Once completed, the whole SLEX-TR5 is expected to reduce travel time from Lucena to Matnog from 9 hours to 5.5 hours, and connect major urban centers in Quezon and Bicol.
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