The proponents of the Makati City Subway project have allotted P20 million per year for an exclusive scholarship and employment program for qualified students, graduates, and teachers from the city-run University of Makati.
This, after Mayor Abigail Binay, acting UMak president, formalized Thursday the partnership project by signing an agreement with Ren Jinhua, chairman of Philippine Infradev Holdings Inc., MCSI’s parent company, on Thursday at City Hall.
Under the agreement, qualified students, graduates or professors of UMak will have the opportunity to study and graduate from the College of Civil Engineering of Tongji University in Shanghai, China. Graduates of the scholarship program shall also be given guaranteed employment in management and/or technical positions in the Makati Subway System.
“The City of Makati welcomes this auspicious offshoot of the Makati Subway project that presents a golden opportunity for Makatizens to earn a degree from a premier university for free, and immediately secure a gainful job with the subway itself,” Binay said.
She noted that Tongji University was a Class A university renowned for its engineering, business, and architecture programs, and its Civil Engineering Department has consistently ranked first in China for decades.
Also formalized during the ceremony was MCSI’s acceptance of the Term Sheet from Megaworld Corporation for the establishment of a joint venture company that will develop a Common Station for the Makati Subway System of MCSI and the proposed Sky Train of Infracorp Development, Inc., a related company of Megaworld.
The Common Station will have access and be connected to the MRT Guadalupe Station and the Pasig River ferry system.
The Makati Subway is the first and most ambitious underground railway project undertaken by a local government unit in the Philippines. Construction period has been estimated at 60 months.
Around 10,000 jobs will be made available to Makati residents in the construction and operation of the subway. Upon the mayor’s request, job opportunities will be opened to Makati senior citizens who are still fit to work once the subway starts to operate in 2025.
The subway system is expected to increase work productivity by cutting down the daily commute or travel time of workers. According to JICA’s congestion valuations, the Philippines will gain at least US$ 600 million annually in GDP just for enhanced productivity.