Gov’t Finally Awards P65B LRT1 Contract
The consortium led by conglomerates Metro Pacific Investments Corp. (PSE: MPI) and Ayala Corp. (PSE: AC) signed Thursday a concession agreement for a P65-billion public-private partnership (PPP) deal, paving the way for the extension of the Light Rail Transit Line 1 in Metro Manila to Bacoor, Cavite.
The project, the eighth and largest PPP project awarded under the Aquino administration, aims to open up access to the southern parts of Metro Manila and to Cavite province when it is finished by 2019.
The deal also provides new revenue streams for the MPIC-Ayala consortium, which was awarded the deal through their joint venture Light Rail Manila Consortium last month.
Source: Philippine Daily Inquirer