INFRASTRUCTURE conglomerate Metro Pacific Investments Corp. (MPIC) is pursuing its proposal to rehabilitate and upgrade the Metro Rail Transit Line 3 (MRT-3) under the incoming Duterte administration.
In a disclosure to the Philippine Stock Exchange, MPIC said “it has in fact re-submitted its proposal and will of course give due regard to the inputs from the incoming Administration.”
“While MPIC holds option rights to acquire all the interest of the Fil-Estate Group in MRT 3, there is no agreement on a partnership between MPIC and Mr. [Robert John] Sobrepeña in undertaking the rehabilitation and improvement of the MRT 3 project,” the company told the local bourse.
MPIC also noted that “we are advised that Mr. Sobrepeña has submitted an alternative proposal regarding MRT 3. Despite this, MPIC intends to pursue its own proposal with the new Administration, which proposal it believes to be the most beneficial solution.”
The MRT-3 carries nearly 600,000 passengers a day, way above its designed daily capacity of 350,000.
As early as 2011, MPIC had already submitted a proposal to the Department of Transportation and Communications (DOTC), offering more than $500 million in investments from the private sector to be used to rehabilitate and upgrade the MRT-3.
MPIC’s proposal did not prosper as its offer included raising fares for the train system.
DOTC Secretary Joseph Emilio Abaya earlier said the government preferred an open and transparent competitive bidding for the upgrade of MRT-3.
Together with Ayala Corporation and Macquarie Infrastructure Holdings (Philippines) Pte Ltd., MPIC is part of the Light Rail Manila Corporation — the consortium that bagged the contract for the Light Rail Transit (LRT) Line 1 Cavite Extension, Operation and Maintenance project.
It is also part of AF Payments Inc., the consortium with Ayala Corporation that was awarded the Automatic Fare Collection System project for the country’s railways.