LISTED construction company Megawide said on Monday that it was looking to finance, build, and construct stations and railways, and supply the rolling stocks of its proposed $1-billion elevated railway from UP Diliman, Quezon City to Lerma in Manila.
“We want to bring in a new technology for constructing an elevated MRT,” Megawide Chief Financial Officer Oliver Tan said in a press conference at the Marco Polo Hotel in Pasig.
Called the East West Railway Project, the 9.77-kilometer proposed line is seen as Megawide’s entry to railway development.
Tan explained that in the case of Metro Rail Transit-3, the operation is handled by the government while a private entity is in charge of the maintenance. In the case of the Light Rail Transit-1 extension project to Cavite, it will be the government that will supply the rolling stocks.
Tan said that with such kind of modality, a failure to comply in one aspect results in blaming a partner, whether it is the government or the private company.
“It affects the overall project. We will finance, build, construct the stations and the rail tracks and turn the assets to the government,” Tan said, noting that even the rolling stocks will come from them.
“It will be very clear. There will be no finger-pointing,” according to Tan.
Meanwhile, Megawide said that it will pursue its P209-billion unsolicited proposal for the 50-year development of Mactan Cebu International Airport (MCIA), including the plan for a second independent parallel runway.
“Terminal 2 will have a capacity of eight million,” Megawide’s Chief Marketing Officer Louie Ferrer said. He added that MCIA expects to have passenger traffic of 10 million this year with its current terminal.
Megawide President and Chief Operating Officer Edgar Saavedra said they are confident about their prospects despite the Philippine government’s push for Chinese and Japanese contractors given the official development assistance coming from the two countries.
“We are confident. As you know, construction is a lot of local works. Even though you are very competitive with foreign [contractors], you will still need to partner with some local contractors,” Saavedra said.
“We have the capacity….We can fast-track the construction” with less manpower, he added.
According to Saavedra, Megawide is actually in discussions with some Japanese companies interested in ODA-funded projects, to which Megawide can be a subcontractor.