Infrastructure holding firm Metro Pacific Investments Corp. is optimistic on the Duterte administration’s evaluation of its P12-billion unsolicited proposal to rehabilitate the Metro Railway Transit (MRT 3) traversing Edsa.
The new MRT 3 proposal—in partnership with conglomerate Ayala Corp., which is also part of the consortium handling the Light Railway Transit 1 (LRT 1) rehabilitation and extension project—also separately seeks to buy out the government’s economic interest in MRT 3.
In a panel discussion during the Shareholders Association of the Philippines (SharePHIL) meeting last week, MPIC president Jose Ma. Lim said that given his group’s involvement in the LRT 1 project, there had been interactive exchanges with the transportation department in the last year.
“I find that in today’s administration, the openness of the economic team is much more improved compared to the previous administration,” Lim said. “So I think there is a way that the private sector can influence government and change their thinking,” he said, adding that the private sector would just have to be patient in explaining its proposals.
Citing the LRT 1 consortium’s interactive exchanges with the government, Lim said this was why the group was emboldened to resubmit a proposal for MRT 3 even when it did not seem to take off the first time around.
Due to the progress made in LRT 1, he also suggested that the government appeared to be more receptive this time.
“Our sense is there are people in government who listen to the private sector— and it’s a question of getting your message across to them,” Lim said.
Citing the group’s submission of a revised MRT 3 rehabilitation proposal, Lim said: “The experience we had is after presenting it to them, within three days, a technical working group was formed to evaluate the program. We never had this kind of quick reaction before from the administration in the past. I think that’s because the economic team is open to suggestions.”
Even in the long-running tariff adjustment dispute involving the tollroads operated by MPIC, Lim said authorities seemed “open to finding ways to settle without having to go through arbitration process.”
In 2014, Light Rail Manila Corp. (LRMC)—a joint venture company of MPIC’s Metro Pacific Light Rail Corp., AC Infrastructure and the Philippine Investment Alliance for Infrastructure’s Macquarie Infrastructure Holdings (Philippines) PTE Ltd.—signed a concession agreement with the government on the P65-billion LRT 1 extension to Cavite as well as an operation and maintenance agreement for the existing railway.
The P12-billion project estimate for MRT 3 proposal refers only to the rehabilitation of existing railways, signalling system and rolling stock. If and when the consortium bags the project, additional investment is needed to purchase new trains and continue the modernization program.
MRT 3, which has a daily ridership of 400,000, has been prone to breakdowns and other glitches. Compared to LRT 1, which uses 35-year-old trains, however, MRT 3 is a much newer elevated railway infrastructure.
Since LRMC officially took over operations of LRT 1, the consortium has successfully restored 27 Light Rail Vehicles (LRVs), bringing the total available to 104 as of end-June 2017.
LRMC served an average daily ridership of 429,915 in the first half of 2017, an improvement of 6 percent from the average daily ridership of 405,568 recorded in the same period last year. During the first half of 2017, the highest recorded daily ridership reached a record high of 536,000 from 2016 highest of 527,000.
The LRT 1 consortium is seen on schedule with its rail replacement project, having finished 87 percent of the work to change 32-year-old tracks as of July 2017. The rail replacement project covers 26 kilometers of rail tracks that, when completed, will enable the reinstatement of a train running speed of 60 kilometers an hour to shorten journey times and thus increase capacity.
In March 2017, the LRT 1 Structural Restoration Project was given the notice to proceed with a target completion in two years. This project, a major component to enhanced passenger safety, includes the restoration of 36-year-old parapets, faulty concrete and repair of river bridges of the railway. This project also complements the ongoing P500-million Station Improvement Project.
LRMC inaugurated the Doroteo Jose Station in February 2017 and is refurbishing all the remaining stations. This is expected to be completed by the first half of 2018.
http://business.inquirer.net/236246/group-bullish-mrt-3-rehab-plan
The new MRT 3 proposal—in partnership with conglomerate Ayala Corp., which is also part of the consortium handling the Light Railway Transit 1 (LRT 1) rehabilitation and extension project—also separately seeks to buy out the government’s economic interest in MRT 3.
In a panel discussion during the Shareholders Association of the Philippines (SharePHIL) meeting last week, MPIC president Jose Ma. Lim said that given his group’s involvement in the LRT 1 project, there had been interactive exchanges with the transportation department in the last year.
“I find that in today’s administration, the openness of the economic team is much more improved compared to the previous administration,” Lim said. “So I think there is a way that the private sector can influence government and change their thinking,” he said, adding that the private sector would just have to be patient in explaining its proposals.
Citing the LRT 1 consortium’s interactive exchanges with the government, Lim said this was why the group was emboldened to resubmit a proposal for MRT 3 even when it did not seem to take off the first time around.
Due to the progress made in LRT 1, he also suggested that the government appeared to be more receptive this time.
“Our sense is there are people in government who listen to the private sector— and it’s a question of getting your message across to them,” Lim said.
Citing the group’s submission of a revised MRT 3 rehabilitation proposal, Lim said: “The experience we had is after presenting it to them, within three days, a technical working group was formed to evaluate the program. We never had this kind of quick reaction before from the administration in the past. I think that’s because the economic team is open to suggestions.”
Even in the long-running tariff adjustment dispute involving the tollroads operated by MPIC, Lim said authorities seemed “open to finding ways to settle without having to go through arbitration process.”
In 2014, Light Rail Manila Corp. (LRMC)—a joint venture company of MPIC’s Metro Pacific Light Rail Corp., AC Infrastructure and the Philippine Investment Alliance for Infrastructure’s Macquarie Infrastructure Holdings (Philippines) PTE Ltd.—signed a concession agreement with the government on the P65-billion LRT 1 extension to Cavite as well as an operation and maintenance agreement for the existing railway.
The P12-billion project estimate for MRT 3 proposal refers only to the rehabilitation of existing railways, signalling system and rolling stock. If and when the consortium bags the project, additional investment is needed to purchase new trains and continue the modernization program.
MRT 3, which has a daily ridership of 400,000, has been prone to breakdowns and other glitches. Compared to LRT 1, which uses 35-year-old trains, however, MRT 3 is a much newer elevated railway infrastructure.
Since LRMC officially took over operations of LRT 1, the consortium has successfully restored 27 Light Rail Vehicles (LRVs), bringing the total available to 104 as of end-June 2017.
LRMC served an average daily ridership of 429,915 in the first half of 2017, an improvement of 6 percent from the average daily ridership of 405,568 recorded in the same period last year. During the first half of 2017, the highest recorded daily ridership reached a record high of 536,000 from 2016 highest of 527,000.
The LRT 1 consortium is seen on schedule with its rail replacement project, having finished 87 percent of the work to change 32-year-old tracks as of July 2017. The rail replacement project covers 26 kilometers of rail tracks that, when completed, will enable the reinstatement of a train running speed of 60 kilometers an hour to shorten journey times and thus increase capacity.
In March 2017, the LRT 1 Structural Restoration Project was given the notice to proceed with a target completion in two years. This project, a major component to enhanced passenger safety, includes the restoration of 36-year-old parapets, faulty concrete and repair of river bridges of the railway. This project also complements the ongoing P500-million Station Improvement Project.
LRMC inaugurated the Doroteo Jose Station in February 2017 and is refurbishing all the remaining stations. This is expected to be completed by the first half of 2018.
http://business.inquirer.net/236246/group-bullish-mrt-3-rehab-plan
