Metro Pacific Investments Corp. is reviving its offer to the government to rehabilitate Metro Rail Transit Line 3.
“We’re thinking of resubmitting our updated proposal on MRT 3. We’re trying to impress the urgency of the issue [on MRT 3 breakdown],” MPIC chairman Manuel Pangilinan said.
When asked if the infrastructure conglomerate would offer the same proposal it submitted to the previous administration, Pangilinan said: “There are parts that are different, or parts that are the same.”
Pangilinan said the company planned to submit its new offer to the Duterte administration within the year.
“[We’re] being responsive to the needs of the people. In the end, [it’s] up to the government” he said.
Metro Pacific submitted a proposal to the Transport Department in 2011, involving a $500-million investment to rehabilitate and upgrade MRT 3.
The Aquino administration rejected Metro Pacific’s offer, which would involve raising fares for the train system.
Metro Pacific signed a cooperation agreement in 2011 with various groups holding rights and interests in MRT 3, including Metro Rail Transit Corp., Metro Rail Transit Holdings Inc., Metro Rail Transit 2 Inc. and Monumento Rail Transit Corp., giving Metro Pacific an option to acquire 48 percent in the system.
Metro Pacific has yet to exercise the option.
State-run Land Bank of the Philippines and Development Bank of the Philippines hold an 80-percent economic interest in MRT 3 while the remaining stake is held by creditors of MRTC.
MRT 3, which runs along Edsa from North Avenue in Quezon City to Taft Avenue in Pasay City, serves more than 500,000 passengers per day, beyond its rated capacity of 350,000.
The line has a fleet of 73 Czech-made air-conditioned rail cars.
The Transportation Department in January 2016 signed a P3.8-billion three-year contract with the joint venture of Busan Transportation Corp., Edison Development & Construction, Tramat Mercantile Inc., TMICorp and Castan Corp. to do maintenance works on the rolling stock and signaling system, the most critical maintenance component of MRT 3.
The Senate called for an investigation on the safety of the rail system amid the recent breakdown of several trains.
