$1-billion Diliman-Quiapo LRT mulled

A Malaysian firm has signed a memorandum of understanding with a Filipino firm to invest in a $1 billion light rail transit, an unsolicited mass transport project proposal that would run from Diliman in Quezon City to Quiapo in Manila.

Trade and Industry Secretary Ramon M. Lopez confirmed this during a press conference upon arrival in Davao City from President Duterte’s state visit to Malaysia.

“That’s the private to private agreement or MOU that’s going to be signed of, that must have been signed in another place right now. That’s the disclosure of those companies also, not from us but obviously that comes into fruition then we would welcome that,” said Lopez.

According to Lopez, his understanding was it is an unsolicited proposal although it is aligned with the projects that the Department of Transportation (DOTr). As such, he said,  unsolicited infrastructure project would still go through the regular government process.

Lopez, however, said he could not disclose the firms because he was not authorized, except to say that the Malaysian group is a credible company with projects abroad including the South Luzon Expressway. MTD Capital Berhad is the original partner of the state-owned Philippine National Construction Corp. for the South Luzon Tollway or Alabang-Calamba-Sto. Tomas Expressway (ACTEX).

“I haven’t seen that MOU, that’s why I’m not owning that signing but these are legitimate companies, I’m not doubting the credibility. These are big companies actually in Malaysia and Philippines. In fact, they are doing, those are the companies that have done SLEX efficiently and competitively,” he added.

Apparently the project proponents have their study conducted already but will still have to undergo the processes with the DOTr and will be subjected to a Swiss Challenge later.

In terms of trade, Lopez said the Philippines is fully supportive of the revival of the Brunei, Indonesia, Malaysia, Philippines-East Asia Growth Area (BIMP-EAGA), sub-grouping in the ASEAN.

Lopez explained that the BIMP-EAGA has been there all along which the Duterte would like to give a bigger push by encouraging more flights, more sea trade, sea transport, movement of people among areas in proximity with each other.

“It’s been there, we just would like to give more focus in terms of ports improvement because these areas are far from their respective capitals. They are like the back roads or back sea ports and sea lanes, so they need extra support because they are just near each other and that makes it easier to encourage flow of goods, people and tourists,” he explained further.

Lopez said there have been missed opportunities in the BIMP-EAGA.

Source: http://business.mb.com.ph/2016/11/11/1-billion-diliman-quiapo-lrt-mulled/