Conglomerate wrapping up financials of $3B highway

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    A conglomerate proposing to build a 10-lane elevated expressway on EDSA is awaiting the completion of financial documents on the project estimated to cost $3 billion.

    “We (have) submitted that (proposal. What is) lacking (are) some financial studies (and these are) being completed. The idea is beautiful and I think (DOTR) Secretary (Arthur) Tugade also likes it. Give us one to two weeks to complete the documents,” said Ramon Ang, president and chief operating officer, of San Miguel Corp. (SMC)

    Ang told reporters at the sidelines of Petron Corp.’s signing of a partnership with the Department of Tourism (DOT) in Pasig City last Friday the planned expressway is doable, citing a similar project in Jakarta, Indonesia.

    The proposed expressway will be an all-steel highway atop the Metro Rail Transit will run from Macapagal boulevard in Pasay City to Balintawak in Quezon City or a total of 23 kilometers.

    SMC also plans to connect the elevated expressway to Skyway Stage 3, an 18.68-kilometer elevated expressway from Buendia, Makati City to Balintawak.

    Meanwhile, SM-led Petron signed with the DOT a memorandum of understanding for the Barrier-Free and Environmentally Sustainable Toilet Project that aims to ensure the quality of restrooms in establishments near tourist destinations in line with the Asean public toilet standard.

    Under the deal, 200 Petron stations will undergo an accreditation process. Each one will be assessed based on design and environmental management system, amenities and facilities, cleanliness and safety.

    DOT said it started the partnership with Petron as the oil retailer has over 2,400 service stations nationwide.