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SM Prime Holdings Inc. and state-run Light Rail Transit Authority (LRTA)
are finalizing an agreement for the construction of an additional
station for the Light Rail Transit Line 1 (LRT 1) North Extension
project in Quezon City.
The LRTA said the additional station will be
located in front of SM North Annex between the Roosevelt and North
Avenue stations of the LRT 1 North Extension project.
In its project update, LRTA said SM Prime would
foot the bill for the said station.
LRTA had estimated the cost of the additional
station at about P100 million. SM Prime has financed a cost-benefit
analysis to determine the benefits that would accrue to LRTA should
the station be constructed.
“In view of the fact that the proposed
additional station would also serve [Metro Rail Transit] Line 7, it
has to be recognized that any agreement between LRTA and SM [Prime]
pertaining to the additional station would also have to include the
proponents of Line 7,” the LRTA said.
A consortium led by Universal LRT Corp. has
proposed to build the MRT 7. The consortium is composed of Siemens
AG of Germany, Alstom Corp. of France; China National Technical
Import and Export Corp., EL International Holdings of Hong Kong,
Earth Tech of Tyco International USA, Premier Gold of Japan, Redford
Assets Ltd. of the SM group, EEI Corp., Penta Capital Management
Corp., Merlin Pacific Capital Inc., TCGI Engineers, and private
investors such as George Go and former Finance Secretary Roberto de
Ocampo.
The LRT North Extension is estimated to cost
around P6.32 billion, and involves the construction and detailed
design of a 5.71-kilometer elevated line from Monumento station of
LRT 1 to North Avenue of MRT 3. The project would also entail
construction of new intermediate stations at Balintawak and
Roosevelt, and a terminal station at North Avenue.
The Balintawak station will provide modal
interchange with bus and jeepney services entering Metro Manila from
the north via the North Luzon Expressway.
Of the P6.32-billion project cost, civil and
architectural works would cost P3.3 billion; electromechanical
works, P1.9 billion; consultancy services, P317.4 million;
contingency, P318 million and inflation adjustment, P342.35 million.
The project will begin construction this year,
with target completion in April 2010. Once running, the LRT North
Extension is expected to serve about 800,000 to 1 million
passengers.
-- Darwin G. Amojelar
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