The Light Rail Manila Consortium of Ayala Corp. and Metro Pacific Investments Corp. is interested in the contract to build the P65.09-billion LRT Line 1 extension to Dasmariñas from Bacoor, Cavite.
“For the convenience of the Cavite commuters, I think that line is very welcome to them and of course we will be interested because it will enhance the economics of our line… if that line will be built,” LRMC president and chief executive Jesus Francisco said.
The project, approved by the board of the National Economic and Development Authority, is a 19-kilometer railway from Niyog, Bacoor, which is the terminus of the P64.9-billion LRT 1 Cavite Extension, to Dasmariñas City.
The proposed LRT Line 6 would have seven stations, namely Niyog, Tirona, Imus, Daang Hari, Salitran, Congressional Avenue and Governor’s Drive.
LRMC earlier won the contract to build the LRT Line 1 Cavite Extension Project.
Under the concession, LRMC will assume the operations and maintenance of the existing 20-kilometer LRT1, and construct the 11.7-kilometer extension of the rail line southward from the Baclaran station to Bacoor, Cavite.
The consortium will build eight new stations after Baclaran. These include Aseana, MIA, Asia World, Ninoy Aquino, Dr. Santos, Las Piñas, Zapote and Niyog.
The project will increase the span of LRT 1 from 20.7 kilometers to 32.4 kms, and provide commuters from Cavite and other parts of Parañaque and Las Piñas access to central Manila.
The project is expected to start by October 15 and should be operational within 54 months, or by May 2019.
MPIC, through Metro Pacific Light Rail Corp., owns 55 percent of LRMC, while AC Infrastructure Holdings Corp. of Ayala Corp. holds a 35-percent stake. Macquarie Infrastructure Holdings (Philippines) Inc. owns remaining 10 percent.
The LRT Line 1 extension will increase the length of LRT 1 from 20.7 km. to 32.4 km., and provide commuters from Cavite and other parts of Parañaque and Las Piñas access to central Manila.
The government will acquire the right-of-way for the project, the satellite depot, and procure 120 light rail vehicles that will be financed through a grant from the Japan International Cooperation Agency.
LRMC will invest P35 billion in the project.
AC Infra has invested P9 billion in Philippine rail projects under the government’s public private partnership program.
AC Infra’s total equity investment commitment for the LRT Line 1 Cavite Extension Project amounted to P8.5 billion at end-December last year.