Wednesday 16 January
Aug 31, 2017 @ 17:58

MPIC-Ayala group to take over MRT3 in 6 months


The consortium of Metro Pacific Investments Corp. and Ayala Corp. is eyeing to take over the assets and operations and maintenance (O&M) of MRT 3 in six months.

?MPIC, Ayala Corp. and Macquarie have submitted a proposal to the government last July 14. The unsolicited proposal is the total complete package with contract provisions because we were just lifting the same provisions of the concession agreement under LRT Line 1,? said Rogelio Singson, president of Light Rail Manila Corp.

?Our offer is lock, stock and barrel. We?ll take take over just like Line 1. We will operate and maintain,? Singson said.

In September 14, LRMC secured a 32-year concession to operate and maintain the LRT 1 including the Cavite extension.

?The offer is there. It makes a lot of sense to government. We will take out the responsibility from government. The offer is for us to take over and for another 32 years or 30 years of concession. We?re hoping the government will give the proposal a serious evaluation and give the proponent what is referred to as original proponent status (OPS),? Singson said.

?Once you?re given OPS, government can go through a Swiss challenge. Whoever wants to offer a similar proposal, there is a period, 90 days or maybe 120 days under existing rules that they have to go through a challenge and hopefully, if there is a challenge and there is a decision, hopefully, the best proposal comes out by the first quarter of next year. It could be as soon as four to six months,? he added.

Please follow and like us:

Tags: , , , , , ,

Related Stories
Conglomerate San Miguel Corrp. has agreed to shoulder the acquisition of right of way and
San Miguel Corp.?s proposed P735 billion New Manila International Airport project in the province of
Energy Secretary Alfonso Cusi wants Manila Electric Co. to subject its controversial power supply agreements
The Cebu City council has endorsed the application of the Gokongwei-led Universal Hotels and Resorts


Trending News

Recommended on sister sites

Copyright © 2019 Bilyonaryo - Latest news on the richest Filipinos and Family Business.