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By Darwin G Amojelar, Reporter
STATE-RUN Light Rail Transit Authority (LRTA)
has proposed tapping a Chinese loan to finance the multimillion
dollar Manila Light Rail Transit (LRT) Line 1 south extension
project, a high ranking official of the National Economic and
Development Authority (NEDA) said.
Acting Socioeconomic Planning Secretary
and NEDA Director General Augusto B. Santos said the LRTA has
submitted a proposal to tap Chinese funding to finance the long
delayed LRT South extension project costing $683 million.
In a letter to NEDA, the LRTA said it plans to
tap China Shanghai (Group) Corp. For Foreign Economic &
Technological Cooperation (SFECO) for project funding. The Chinese
company is engaged in many projects such as construction of roads,
bridges, buildings, gardens, chemical plants, hydro power and
thermal power plants, reconstruction of power transmission and
transformation, fisheries, textile machinery, food machinery,
automatic warehousing, steel factory, and oil and gas tanks.
The competitive bidding for the project was
delayed because the Department of Budget and Management has yet to
issue the multiyear obligation authority for the government’s
planned loan from the World Bank. The multiyear obligation authority
is an assurance that the funding is included in the yearly General
Appropriations Act.
The Manila LRT 1 south extension, a priority
project of the Arroyo administration, will run from its southernmost
terminal in Baclaran to the cities of Parañaque and Las Piñas and
the neighboring municipalities of Bacoor, Imus and Dasmariñas in
Cavite province.
Earlier, LRTA said fifteen foreign and local
companies submitted proposals to fund the construction of the
project.
The winning bidder will fund the design,
construction and installation, as well as integration of the
extension with the existing line. It would also be in charge of the
integrated operation and maintenance of the entire line and
provision of enhancement works on the integrated system.
The LRT Line 1 south extension project will have
a 40-year concession period inclusive of four years of construction.
The LRTA wants to start construction by midyear
and finish by three years. Phase I (Baclaran to Dr. Santos Station)
of the project will be completed and in revenue service by the year
2010 and Phase 2 (Dr. Santos Station to Niog, Bacoor) will be
completed in 2012.
The extension will include eight new passenger
stations, with provision for two additional future passenger
stations, which is expected to serve 800,000 passengers a day and
cut travel time from Bacoor, Cavite, to Monumento, Caloocan City, to
less than an hour.
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