MANILA — San Miguel Holdings Corporation (SMHC) is reportedly in talks with the Department of Transportation to build two new road projects that would ease traffic within and outside Metro Manila.
San Miguel confirmed the project in a disclosure to the Philippine Stock Exchange with both declared as toll roads based on the proposal submitted by the joint venture of the Philippine National Construction Corporation (PNCC) and SMHC.
According to reports, the first project that will be known as Pasig River Expressway (PAREX), is a six-lane elevated expressway that will connect Manila to the province of Rizal. Measuring 19.37km long, 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 the following 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 an estimated construction period of 24 months.
The other project is a four-lane, 420km South Luzon Expressway Toll Road 5, which will start at 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 Corporation, at 90%, and the PNCC, at 10%.