The Department of Transportation and Communications on Friday awarded the LRT-1 Cavite Extension project to the Light Rail Manila Consortium (LRMC).
MPIC and Ayala Corp. said in disclosures to the bourse that LRMC took on French companies Bouygues Travaux Publics and Alstom Transport Pte. Ltd. to help build the extension.
“Both French companies, well known for their efficiency and reliability, carry impressive track records in constructing multiple mass rail transit systems in France and in other parts of the world,” the two partners’ joint statement read.
LRMC, according to the statement, is also in the prequalified stage with two other potential partners for the project -- RATP Dev, which runs the Paris Metro, and MTR Corp. of Hong Kong.
“The commitment of these internationally recognized companies in the field of rail development attests to the consortium’s desire to bring only the best expertise available to address the transport challenges faced by Manila’s rapid urbanization,” the statement read.
The Ayala Corp.-MPIC tandem will invest P35 billion to build and operate a train system aimed at providing a long-term solution to the worsening traffic conditions in the Parañaque City-Las Piñas City-Cavite corridor.
MPIC Chairman Manuel V. Pangilinan said in the statement: “This is a momentous day for LRMC. Our partnership with the government will benefit nearly 500,000 Metro Manila commuters that ride LRT-1 daily.
The consortium commends the open and transparent bidding process adopted by the government in selecting and awarding the contract to us based on our technical and financial strengths in building a highly advanced and modern rail system that would be at par with train systems globally and our neighbors in the region.”
“We envision a state-of-the-art train system that will bring a different rail experience to our commuters, including the introduction of an Automated Fare Collection System in the 11.7-kilometer Cavite Extension that will improve passenger comfort and convenience by cutting queuing time, and allowing seamless transfers from one rail line to another,” Mr. Pangilinan added.
For his part, Ayala Corp. Chairman Jaime Augusto Zobel de Ayala said: “We are excited to proceed with this project together with our partners.
We share a common vision to create a highly efficient rail transport system that is safe and convenient for all the daily commuters of the rail line. Above anything else the riding experience and comfort of the commuters are our prime concern as we build a world-class rail transit system.”
“This project is a significant step forward in creating the right environment and infrastructure to address the many pressures that growth brings to urbanization,” the Ayala Corp. chairman added.
Under the concession agreement, LRMC will operate and maintain the existing 20-kilometer LRT-1 and construct the 11.7-kilometer extension of the rail line southward from the current endpoint at Baclaran up to Niyog, Bacoor, Cavite.
This entails the construction of eight new stations out of which three shall have intermodal facilities. The eight new stations after Baclaran will include Aseana in Pasay City, Manila International Airport, Asia World, Ninoy Aquino, Dr. Santos, Las Piñas, Zapote, and Niyog. The intermodal facilities shall be located at Dr. Santos, Zapote, and Niyog.
The project will lengthen LRT-1 to 32.4 kilometers from the current 20.7 kilometers and provide commuters from Cavite and other parts of Parañaque and Las Piñas cities convenient access to Manila.
On Monday, Ayala Corp. shares ended trading at P710, while MPIC closed at P5.11. --Chrisee Jalyssa V. Dela Paz
source: Businessworld
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