BIZ BUZZ: PAREx hits roadblock
Tycoon Ramon Ang’s controversial Pasig River Expressway (PAREx) project has hit a major roadblock. Toll Regulatory Board (TRB) Executive Director Alvin Carullo said the project was on “indefinite suspension” as San Miguel Corp. (SMC) would have to resolve first the alignment overlap with the Pasig River Esplanade.
But this is just one of the issues that the conglomerate—also busy with rehabilitating Ninoy Aquino International Airport—has to deal with.
Carullo said SMC might also need to recalibrate the project, as the alignment traverses Intramuros, which will require a ton of paperwork as it is a heritage site. Ang has two options: Get the necessary permits so it can proceed with the construction, or work around it, literally.
The TRB official also said the PAREx project had yet to secure the environmental clearance certificate needed to prove that the project would have no significant adverse impact on the river ecosystem.
The PAREx project, which was approved by the government in September 2021, is a 19.37-kilometer elevated expressway traversing the banks of the entire Pasig River.
The six-lane toll road will run from Radial Road 10 in Manila to the proposed South East Metro Manila Expressway at Circumferential Road 6 in Taguig City.
