Monday, May 12, 2008 [ manilatimes.net ]
SM Prime Holdings Inc. and state-run Light Rail Transit Authority (LRTA) are finalizing an agreement for the construction of an additional station for the Light Rail Transit Line 1 (LRT 1) North Extension project in Quezon City.
The LRTA said the additional station will be located in front of SM North Annex between the Roosevelt and North Avenue stations of the LRT 1 North Extension project.
In its project update, LRTA said SM Prime would foot the bill for the said station.
LRTA had estimated the cost of the additional station at about P100 million. SM Prime has financed a cost-benefit analysis to determine the benefits that would accrue to LRTA should the station be constructed.
“In view of the fact that the proposed additional station would also serve [Metro Rail Transit] Line 7, it has to be recognized that any agreement between LRTA and SM [Prime] pertaining to the additional station would also have to include the proponents of Line 7,” the LRTA said.
A consortium led by Universal LRT Corp. has proposed to build the MRT 7. The consortium is composed of Siemens AG of Germany, Alstom Corp. of France; China National Technical Import and Export Corp., EL International Holdings of Hong Kong, Earth Tech of Tyco International USA, Premier Gold of Japan, Redford Assets Ltd. of the SM group, EEI Corp., Penta Capital Management Corp., Merlin Pacific Capital Inc., TCGI Engineers, and private investors such as George Go and former Finance Secretary Roberto de Ocampo.
The LRT North Extension is estimated to cost around P6.32 billion, and involves the construction and detailed design of a 5.71-kilometer elevated line from Monumento station of LRT 1 to North Avenue of MRT 3. The project would also entail construction of new intermediate stations at Balintawak and Roosevelt, and a terminal station at North Avenue.
The Balintawak station will provide modal interchange with bus and jeepney services entering Metro Manila from the north via the North Luzon Expressway.
Of the P6.32-billion project cost, civil and architectural works would cost P3.3 billion; electromechanical works, P1.9 billion; consultancy services, P317.4 million; contingency, P318 million and inflation adjustment, P342.35 million.
The project will begin construction this year, with target completion in April 2010. Once running, the LRT North Extension is expected to serve about 800,000 to 1 million passengers. -- Darwin G. Amojelar
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