SM and Ayala join forces to solve Metro Manila’s worsening traffic problems.
The corporate giants submitted a P25-billion unsolicited proposal to build an 8.6-kilometer elevated expressway connecting Sta. Mesa Manila and SM Mall Of Asia in Pasay City.
According to the President or CEO of AC Infrastructure Holding Corp. Jose Rene Almendras, the unsolicited proposal to design, finance, construct, operate and maintain the elevated toll road for a period of 35 years was submitted to the Department of Public Works and Highways on March 30, 2017.
The proposed project is expected to reduce the traffic congestion in EDSA and to improve access to different development areas, business districts and other cities.
We have an idea of where we want to be, but we cannot disclose yet at this time because it is possible there are other names we will add to these two. There are other groups interested in infra projects and there are ongoing discussions with them. We have invited others to join us and right now, we cannot disclose because there is still evaluation stage,” Almendras said.
Based on the two group’s timeline for the proposal, they hope to receive the approval in the second quarter of next year. The duration of the construction would take 3 years to complete.
The tollway could accommodate 100,000 vehicles moving at 60 kilometers per hour up to 150,000 vehicles at a slower speed.
“The proposal is designed that government will not spend one centavo for this project. They may advance a little but eventually, we will pay them,” Almendras emphasized.