Metro Pacific Investments Corp. is unlikely to resubmit its unsolicited proposal to rehabilitate, operate and maintain the Metro Rail Transit Line 3 to the Department of Transportation (DOTr) amid lack of government approval for fare hikes, a top executive said.
“I don’t know where we are, during the time of [DOTr Secretary] Jimmy Bautista, but I think that expired,” MPIC chairman Manuel Pangilinan said.
“[DOTr] Secretary [Vince] Dizon is new. Unlikely for me [to resubmit]. It’s difficult because there are no approved tariffs,” said Pangilinan
The DOTr earlier said it was eyeing to privatize the operations and management of MRT 3 after as the build-lease-transfer (BLT) agreement between the government and Metro Rail Transit Corp. is set to expire this year.
The government operates MRT 3, while the MRTC, owned by Metro Rail Transit Holdings II Inc. led by businessman Robert John Sobrepeña, is responsible for the design and construction of the EDSA rail transit system.
Formed in 1995, MRTC started building MRT 3 in October 1996, completed it in December 1999 and started full operations in July 2020.
MRTC and the government through the Department of Transportation and Communications signed the BLT agreement to construct and maintain MRT 3.
MRTC financed the construction of the modern rail system stretching along EDSA’s 10.5-meter median from North Ave. in Quezon City to Taft Avenue in Pasay City. The company infused P4.49 billion worth of equity into the project.
The train system is designed to carry in excess of 23,000 passengers per hour per direction, initially, and is expandable to accommodate 48,000 passengers per hour, per direction.