IRC Properties, Inc. said it will now proceed with the Swiss challenge for its proposed $3.7-billion Makati Mass Transport system, after securing approval from the Makati City government and other regulators.
“IRC wishes to inform the investing public that pursuant to Makati City Ordinance No. 2014-051 or the City of Makati PPP Code, as amended by Makati City Ordinance No. 2017-017, a joint certification was today executed between the Makati City Government and IRC, certifying, among others, that IRC, as the proponent, is eligible to participate as the original proponent in the unsolicited proposal and competitive/Swiss Challenge process,” the company said in a statement.
In June, IRC Properties, Inc. secured original proponent status from the Makati government for its proposed intra-city rail transport system.
The project will be interconnected with the Metro Rail Transit-Line 3, the proposed Metro Manila Mega Subway, and Pasig River Ferry. — Arra B. Francia

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