Posted on February 12, 2016
07:45:00 PM [ bworldonline.com]
By Daphne J. Magturo,
Reporter
THE CONSORTIUM of the
Ayala, Metro Pacific, and Macquarie groups is obtaining a P24.4-billion loan
from three local banks to finance the rehabilitation and Cavite extension of
Light Rail Transit (LRT) Line 1.
Light Rail Manila Corp.
(LRMC), the consortium, also signed an engineering, procurement, and
construction (EPC) deal with French contractors Bouyges Travaux Publics and
Alstom Transport, worth a combined €450 million.
“LRMC signed the 15-year
Omnibus Loan and Security Agreement with Metropolitan Bank & Trust Company,
Security Bank Corporation, and Rizal Commercial Banking Corporation...,” the
group said in a statement on Friday.
Broken down, P15.3 billion
will go the Cavite extension, and P8.7 billion, to the rehabilitation of the
existing train line.
LRMC -- owned by Ayala
Corp., Metro Pacific Light Rail Corp. and Macquarie Infrastructure Holdings
(Philippines) -- bagged last September the P64.9-billion LRT-1 Cavite Extension
public-private partnership project. It took over the train’s operation and
maintenance last Sept. 12.
The group aims to start
construction of the 11.7-kilometer (km) extension by the “second half of the
year,” LRMC President and Chief Executive Officer Jesus P. Francisco told a
media briefing on Friday, at the Holiday Inn and Suites Makati.
Completion in four years is
targeted.
For the EPC deal, “the
contract is worth around €450 million, including approximately €160 million for
Alstom,” the latter said in a separate statement on Friday.
“Alstom will provide an
integrated metro solution which includes signaling and communication system,
traction power supply, and track work on the 12-km extended line including one
new depot and the extension of the existing depot,” the contractor said.
“Alstom will also equip
Atlas 100 on-board signaling solution for 60 trains and revamp signaling system
for existing 20-km line.”
Meanwhile, Bouygues Travaux
Publics will provide the railway infrastructure for the Cavite Extension.
“[It] is known globally for
complex projects involving tunnels, engineering structures and road, port and
rail infrastructure, most recent of which were the Hong Kong-Zhuhai-Macao
Bridge, the Port of Miami Tunnel and the Nimes-Montpellier rail bypass in
France,” LRMC said.
The government is procuring
120 new light rail vehicles that will arrive in two batches by 2017 and 2018.
LRMC said the train’s
travel speed can increase to 60 km per second from the current 40 kmps once the
new trains arrive, boosting passenger volume.
The train line carries an
average of 400,000 passengers daily, according to Mr. Francisco.
The Cavite extension will
connect Baclaran Station, the current end station at the South, to Niyog,
Cavite.
Eight new stations will be
built: Aseana, MIA, Asia World, Ninoy Aquino, Dr. Santos, Las Piñas, Zapote,
and Niyog.
“The new stations will be
accessible to and from nearby community facilities such as shops, schools,
stadium, park, etc., and be located to suit passenger flow routes from
residential areas,” LRMC said.
The group will also tap
property giant Ayala Corp. to provide retail establishments around the
stations.
“Pedestrian access to all
new stations will be direct, safe, and easy. Details such as lighting to
distinguish access points, pedestrian cross striping, and curb cuts for
handicapped access will be provided,” the group said.
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