LIGHT Rail Manila Corp. (LRMC), the concessionaire for the operations, maintenance and extension of the Light Rail Transit System Line 1 (LRT-1) running along Taft and Rizal avenues, on Thursday inked a 10-year agreement authorizing international media company PHAR to operate all of its non-box revenue businesses.
LRMC, a consortium comprised of Metro Pacific Investments Corp. (MPIC) unit Metro Pacific Light Rail Corp. (MPLRC), Ayala Corp.’s AC Infrastructure Holdings Corp. (AC Infra), and the Philippine Investment Alliance for Infrastructure’s Macquarie Infrastructure Holdings Philippines Pte. Ltd. (MIHPL), signed an agreement with PHAR as its exclusive ancillary revenue partner from 2016 until 2026.
“We are pleased to have appointed PHAR to be our ancillary revenue partner. Their approach ties into our vision, and their experience dealing with major transit operations in Asia and beyond, coupled with their willingness to invest in the improvement of the line, makes them the ideal long-term partner for LRMC,” said Jesus Francisco, LRMC president and CEO.
PHAR will assume responsibility for commercializing all non-fare box revenue across the entire LRT Line 1, which includes all forms of advertising, major brand partnerships, Wi-Fi, fiber optics, retail-led solutions, naming rights, data and applications, automated teller machines and other category partnerships.
On September 12, LRMC took over the reins of the oldest rail transit in Metro Manila, LRT-1, from the LRT Authority (LRTA) and the Department of Transportation and Communications.
LRMC, which also bagged the P65-billion LRT-1 Cavite extension through the public-private partnership program of the government, has now taken over the operations and maintenance of the LRT.