SAN Miguel Corp. (SMC) may soon secure the government’s approval for its unsolicited proposal to convert the Pandacan oil depot in Manila into a bus and food terminal, its chief said on Wednesday.
On the sidelines of the inauguration of its Better World Tondo food bank in Manila, San Miguel President and Chief Operating Officer Ramon Ang said Transportation Secretary Arthur Tugade was “in the final stages of evaluating the proposal.”
“I believe [the] DoTr (Department of Transportation) and President [Rodrigo] Duterte love the idea,” he added.
According to him, if the proposal is approved by next month, the terminal would open in two years.
Submitted to the DoTr in June, the proposal also includes building a logistics center on the 50-hectare property.
The ground floor of the terminal would have 300 to 400 loading and unloading bays for buses, Ang said. Earlier, he said the facility could accommodate around 5,000 buses.
The second floor will house the market and food storage for vegetables, meat and seafood.
Ang did not disclose the project cost, saying it could not be calculated at the moment. He, however, said in June the project would have an estimated cost of P10 billion. which includes construction of an on-ramp, off-ramp and other nearby roads within the vicinity.
The proposal — which is eyed to be connected to the Skyway expansion project — is expected to ease traffic on Edsa as provincial buses would be given another route.
The terminal would also help commuters going to and from Manila, according to the San Miguel chief.
Given that the Pandacan property was once an oil depot, Ang said his company would ensure that all necessary environment regulations would be met.
The property used to house the fuel storage facilities of major oil firms, including Petron Corp., Pilipinas Shell Petroleum Corp. and Chevron Philippines Inc.
San Miguel shares increased by P1.40 or 0.81 percent to close at P174 each on Wednesday.