The Pasig expressway project has been canceled

San Miguel Corp. (SMC) has decided to abandon its plans for the Pasig River Expressway (Parex) due to strong opposition from environmental and conservation groups. SMC President and CEO Ramon Ang stated that if the public does not support a project, he will not pursue it, emphasizing the importance of listening to public sentiment. The proposed expressway aimed to provide an alternative route across Metro Manila, starting at Radial Road 10 in Manila and ending in Taytay, Rizal. Despite previous approvals and groundbreaking ceremonies, criticism regarding environmental impact and legal violations led to the project’s cancellation. SMC, known for its toll road projects, had proposed Parex as a solution to ease traffic congestion in the metro. Ang highlighted SMC’s sensitivity to public opinion and commitment to projects that benefit public welfare. The company’s decision to scrap the Parex project coincided with a decline in SMC’s stock value on the Philippine Stock Exchange.

Business News: The Pasig expressway project has been canceled