The Government of the Philippines has approved the Pasig River Expressway (PAREX) project which will be implemented as a Public-Private Partnership. 

The project is proposed by San Miguel Corporation (SMC), and the company will be the developer of the highway as well. Worth approximately PHP95 billion (US$1.86 million), the project consists of a 19.37-km, six-lane elevated road along the banks of the Pasig River. It will run from Radial Road 10 in Manila to C-6 road, known as the future South East Metro Manila Expressway (SEMME) in Taguig. The highway will have three major segments- Segment 1 from R-10 to Plaza Azul, Manila, Segment 2 from Pandacan to C-5, and Segment 3 from C-5 to C6. 

The PAREX project will be the first privately-funded road network in the Philippines that combines sustainability features with the functionality of safe and efficient transport infrastructure. The road will include infrastructure for pedestrians and cyclists. Once operational, the road will serve as the east-west connection, linking up with Skyway 3 and SEMME, making every major city in Metro Manila accessible via the expressway.