Greenergy submits offer to construct tramway in Manila

Greenergy Holdings Inc., a listed company owned by businessman Antonio Tiu, submitted an unsolicited proposal to build a modern tramway system in Manila.

Greenergy said in a disclosure to the stock exchange it submitted the proposed financing, implementation and operation of a modern tramway system to the local government of Manila.    

No other details were given the company including project cost.

Greenergy president and chief executive Antonio Tiu said in a text message the company was still doing the final feasibility to determine the total cost of the project.

The planned tramway aims to connect Roxas Boulevard to Makati Subway, a project of Philippine Infraved Holdings Inc. which is also controlled by Tiu. It will run from Port Area to Vito Cruz.

The Makati Subway project is an 11-kilometer intra-city mass transport system with up to 10 stations that will connect key points in Makati’s two districts with no cash out from the city government.

Once completed, the $3.7-billion Makati subway project is expected to accommodate up to 700,000 passengers per day aboard six car trains.

Share price of Greenergy fell 1.94 percent Thursday to P2.02.

Topics: Greenergy Holdings Inc. , Antonio Tiu , tramway system
COMMENT DISCLAIMER: Reader comments posted on this Web site are not in any way endorsed by Manila Standard. Comments are views by readers who exercise their right to free expression and they do not necessarily represent or reflect the position or viewpoint of While reserving this publication’s right to delete comments that are deemed offensive, indecent or inconsistent with Manila Standard editorial standards, Manila Standard may not be held liable for any false information posted by readers in this comments section.
AdvertisementGMA-Working Pillars of the House