Monday, September 15, 2014

Metro Pacific-Ayala joint venture ready with downpayment for LRT1 Cavite Extension Project

MANILA - The joint venture of Ayala Corp (AC) and Metro Pacific Investments Corp (MPIC) on Monday said it is "ready" to comply with the requirements set by the government for the P64.9-billion LRT1 Cavite Extension Project. 
"We are ready to comply with the timetable set forth in the bid guidelines," Jose Ma. K. Lim, president of MPIC, said in a text message.
Light Rail Manila Consortium (LRMC) has 20 days to comply with post-award requirements, including the payment of 10 percent of its P9.35-billion premium, after which both parties may sign the concession agreement.
LRMC is composed of Metro Pacific Light Rail Corp, which leads the consortium with a 55 percent stake, AC Infrastructure Holdings Corporation with a 35 percent stake, and Macquarie Infrastructure Holdings (Philippines) Inc with a 10 percent stake.
Last Friday, the Department of Transportation and Communications (DOTC) awarded the project to Light Rail Manila despite the temporary restraining order (TRO) issued by the Supreme Court with respect to the common station component of the project.
DOTC had tucked in the design of the common station, which will link LRT1, MRT3 and the proposed MRT7, in the Cavite Extension project.
To recall, the High Tribunal issued the TRO in behalf of SM Prime Holdings Inc, which contested the transfer of the common station to an area beside Trinoma mall. SM Prime cited a 2008 agreement with state-run Light Rail Transit Authority (LRTA) that gave the Henry Sy-led mall developer the naming rights to the station. The same agreement also provided for the location of the station beside the SM North Edsa.
In a statement, MPIC said LRMC will invest P35 billion to construct the LRT1 Cavite Extension project. 
The consortium, which was the lone bidder for the project, has put together partnerships with global companies such as Bouygues Travaux Publics and Alstom Transport Pte Ltd to build the rail system. 
The consortium also pre-qualified 2 of the top operators that dominate the global rail industry, namely RATP Dev, which runs the Paris Metro, and Hong Kong's MTR Corp. 
“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," Manuel V. Pangilinan, MPIC chairman said.  
AC chairman Jaime Augusto Zobel de Ayala said, "This project is a significant step forward in creating the right environment and infrastructure to address the many pressures that growth brings to urbanization."
Under the concession, LRMC will assume the operations and maintenance (O&M) of the existing 20-kilometer LRT1 construct the 11.7-kilometer extension of the rail line southward from the Baclaran station all the way to Bacoor, Cavite. 
This entails the construction of 8 new stations, of which 3 shall have intermodal facilities. The 8 new stations after Baclaran will include Aseana, MIA, Asia World, Ninoy Aquino, Dr. Santos, Las Pinas, Zapote, and Niyog. The intermodal facilities shall be located at Dr. Santos, Zapote, and Niyog.
The project will increase the span of LRT1 from 20.7 kilometers to 32.4 kilometers and provide commuters from Cavite and other parts of Paranaque and Las Pinas access to central Manila.
The government will acquire the right-of-way for the project, the satellite depot, and procure 120 light rail vehicles that will be financed through a grant from the Japan International Cooperation Agency (JICA).
The LRMC may begin construction work and take over operations of LRT1 within a a year from the signing of the concession agreement or by October 15. 
The project should be operational within 54 months or by May 2019.
source:  InterAksyon

No comments:

Post a Comment