AC and SM Propose an Elevated Expressway

MANILA, Philippines – Authorities are now on the probe in the unprecedented proposal of SMIC or SM Investment Corporation together with Ayala Corporation to construct a 25-billion peso worth of toll road from Mall of Asia to Sta. Mesa in Manila.

Public Works Secretary Mark Villar told reporters that they are still studying the proposal because it was just filed last March. The proposal is now on the Investment Coordination Committee of the National Economic and Development Authority.

The path of the proposed elevated expressway will start on the C-3 Sta. Mesa crossing a part of Pasig River reaching the Circuit Makati area, matching the road of Southbound and the Sen. Gil J. Puyat Avenue, up to the Mall of Asia in Pasay.

The interchanges in the proposed elevated expressway will be located in Circuit Makati, Ayala Gil Puyat, Roxas Boulevard, Santa Mesa, and SM Mall of Asia complex.

SM and AC have already asked San Miguel Corporation to join them because the project will run through Skyway Stage 3. However, Ramon Ang, SMC’s president and COO, has already confirmed that he declined to join the project because it will be in conflict with the company’s NAIAX or Nino Aquino International Airport Expressway.

Rene Almendras, AC Infrastructure president and CEO, said that the response of Ang was reasonable. He stated that he respects Ang’s decision to decline the offer because his company has “other plans.” However, he countered the idea that the C-3 elevated expressway will compete with the NAIAX. According to him, the proposed project is not intended to compete with other expressways but to address the problem of traffic in Manila especially in EDSA.

He finally explained that the project wants to help the people in Manila concerning the congestion problem. The expressway will also help the ones from the North to easily go to Makati and the Mall of Asia.

About the Author
The Stock Signals Philippines is the online news media arm of Equilyst Analytics. Inc., an SEC-registered stock market consultancy firm in the Philippines that guides Filipinos on long-term investing and short-term trading and offers mentoring services.

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