The Manuel V. Pangilinan-led Metro Pacific group is hoping the government would still accept its proposal to undertake the rehabilitation and upgrading of the country’s most used railway system.
This, after President Aquino approved last week the release of P6.3 billion to acquire new coaches. Of the amount, P4.5 billion will be spent to buy 26 coaches for the MRT line 3. The remaining P1.8 billion will be spent for the rehabilitation of LRT line 1.
Pangilinan’s group wants to run the railway that services the high-traffic Edsa highway. It had offered the government $300 million to expand the capacity of the MRT 3 and another $350 million for the acquisition of
equity and some of the bonds issued by Metro Rail Transit Corp. (MRTC).
“We offered $300 million to refurbish the system. That decision to accept or not our proposal is up to the government now. We do hope that government will take a look at it,” Pangilinan, chairman of Metro Pacific Investment Corp. (MPIC), said last week when asked to comment on the government’s effort to expand MRT line 3.
The 26 additional coaches for MRT 3 are meant to increase its loading capacity by as much as 60 percent to 37,824 passengers per peak hour in each direction from the current 23,640 passengers per peak hour per direction.
The rehabilitation of LRT 1 will include body repairs for all 63 first-generation trains and the replacement of parts. Also, 18 stations will undergo improvement.
For LRT 2, there is a need to replace four of its 18 trains and repair all 152 air-conditioning units.
MPIC is the local flagship of Hong Kong-based First Pacific Co. Ltd.
The Department of Transportation and Communication under whose jurisdiction MRT and LRT fall, said it remains open to the proposal of MPIC.
When Manuel Roxas II became DOTC secretary, agency, he said the agency would pursue the operation and maintenance (O&M) bid contract for LRT but not for MRT. Instead, only the maintenance of the railway will be auctioned to interested private firms and the MRT 3’s operation will remain with the government.
