Infracorp Development Inc., the infrastructure company of Alliance Global Group Inc., said it expects to start the construction of the P3-billion Skytrain monorail this year, after it obtained an ‘original proponent status’ from the Transportation Department.
Infracorp president Kevin Tan, the eldest son of AGI chairman Andrew Tan, said the construction of the 2-kilometer Skytrain monorail project would start this year and would be completed by 2021.
Tan in a statement welcomed the government’s “remarkable speed” in reviewing the proposal, which was submitted in October 2017.
“We laud the government’s quick action to the proposal. This is another clear indication of the government’s serious commitment and focus on infrastructure developments,” Tan said.
The P3-billion Skytrain monorail project will utilize the automated cable-propelled monorail technology. It is expected to reduce travel time between Fort Bonifacio in Taguig City and MRT Station in Guadalupe, Makati City to only five minutes.
The project will also make provisions to interconnect with other transport hubs. It is expected to benefit around 60,000 to 100,000 passengers daily going to and from the bustling business districts of Makati and Taguig.
“We envision to connect Makati to Taguig and vice versa. These two largest business districts in the country need an efficient and fast transport system that is at par with what the other business districts in cosmopolitan cities like Tokyo and Sydney have,” Tan said.
Under the proposed agreement, Infracorp will build the Skytrain and transfer its ownership title to the government. Infracorp, however, will have the sole right to operate the Skytrain.
Following the Transportation Department’s endorsement of the project, the proposal will go through a review by the National Economic Development Authority Board’s Investment Coordination Committee.
AGI formed Infracorp last year to participate in the public-private partnership projects.
AGI is also a part of the ‘superconsortium’ that submitted a proposal to rehabilitate and expand the Ninoy Aquino International Airport.
Tan said Infracorp was also looking at other potential infrastructure projects, particularly on transport solutions, in several business districts around Metro Manila and in key growth areas around the country.