MANILA - Ayala Corp's infrastructure unit said Friday it partnered with SM Investments Corp for a proposal to build a toll road that would connect Sta. Mesa to the Mall of Asia complex.
The 8.6-kilometer C3 Elevated Expressway, which will cost roughly P25 billion, will pass through the Makati City central business district, AC Infra said in a statement.
The proposal to finance, design and build the toll road will be submitted to the Department of Public Works and Highways, it added.
Ayala Corp shares were down 0.77 percent to P835.50 while SM Investments shares were up 0.14 percent to P697