THE implementation of the 19.37-kilometer Pasig River Expressway (PAREX) is on hold while its private proponent is addressing concerns on the project, according to Ramon Ang, San Miguel Corp. (SMC) president and chief executive officer.
When asked if SMC will abolish the project, Ang said: “It’s not possible, for withdrawal there might be a violation.”
The project is currently on hold while the company addresses concerns about the project, Ang said in an interview on the sidelines of the Philippine Economic Briefing.
The Toll Regulatory Board (TRB) has deferred the submission of the final engineering design for the project for six months from March 2024, while awaiting SMC’s formal termination of the project.
Alvin Carullo, TRB executive director, said the project is currently pending at the final engineering design stage sans any formal communication from SMC that it is cancelling the project.
Under the Supplemental Toll Operation Agreement (STOA) for the project, the government incurs a monetary penalty if it terminates the project.
