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STATE-RUN Light Rail Transit Authority (LRTA) on Friday said it
expects the approval of a World Bank loan for the financing of a
rail project from Baclaran in Parañaque City to Cavite City by May
next year.
Danilo S. Tolentino, LRTA project
manager said the agency expects the Washington-based lender to
approve the proposed $260-million loan to partly fund the
$683-million LRT South Extension project.
The Manila LRT 1 south extension,
a priority project of the Arroyo administration, will traverse the
cities of Parañaque and Las Piñas and the neighboring
municipalities of Bacoor, Imus and Dasmariñas in Cavite province.
Tolentino said the construction of the project will start July next
year and seen completed by April 2010.
He added that the memorandum of
agreement (MOA) between LRTA and the Department of Public Works and
Highway for the right of way was signed in June.
Earlier, LRTA said fifteen
foreign and local companies submitted proposals to fund the LRT 1
south extension. These include China BFECO Group, China National
Technical & E Corp., China Overseas Northwest Construction
Engineering Co. Ltd., PJI Corp. of Japan, International Business
Development of Japan, AMA Group Holdings Corp. and Achivesta, a
consortium of Japan-Filipino investors.
Other groups that also expressed
interest include the Isolux Corban of Spain; Rites Ltd. of
India; Infrastructure Leasing and Network Services Ltd. of India; DM
Consunji Inc., Sumitomo Corp; China State Construction Engineering
Corp. and China Railway South Group Co Ltd. Overseas Engineering Co.
of China.
--Darwin G. Amojelar
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