Philippines awards LRT1 PPP project to MPIC-Ayala-Macquarie consortium
The Light Rail Transit Authority (LRTA) Board has finally awarded the Manila LTR Line 1 extension PPP project in Philippines to the Light Rail Manila Consortium.
In mid July LRTA approved the recommendation made in the same month by the Philippine Bids and Awards Committee (BAC) of the Department of Transportation and Communications (DOTC) to award the project to the winning consortium. The tender process had started in early December 2013.
Light Rail Manila Consortium is owned by Metro Pacific Investments Corporation (55%), Ayala Corporation (35%) and Macquarie Group Ltd (10%).
The team was the only bidder when it submitted its proposal in late May. The consortium offered to pay the government P9.35 billion (US$213.2 million) for the right to build, operate, and manage the project.
It now has 20 days to comply with the award requirements which includes the payment of 10% of its P9.35 billion premium offer. The rest of the amount will be payable during the concession period.
The LRT-1 expansion project includes the operation and maintenance of the entire LRT-1 system for a 35 year concession period.
The LRT extension project will lengthen Line 1 from 20.7 kilometers to 32.4 km, with a new south endpoint in Niog, Bacoor, Cavite. Approximately 10.5 km of the Cavite Extension System will be elevated and 1.2 km will be at grade level. The extension will serve nearly 4 million residents of Parañaque, Las Piñas, and Cavite.
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