METRO Global Holdings Corp. is eyeing to build a transport solution for Baguio City that will use electric vehicles.
In a disclosure to the exchange on Thursday, the listed company said it had signed a memorandum of understanding with the local government of Baguio City to do feasibility studies for the plan.
Part of the “intelligent public transport system” is finding solutions to ease traffic congestion in the city and minimizing its environmental impact.
The system would lay out one interface that connects a monorail, trolleybus, electric bus and similar transport modes powered by electricity. Metro Global will have 90 days to complete the feasibility study.
The agreement was signed by Baguio City Mayor Benjamin B. Magalong and Metro Global Chairman Robert John L. Sobrepeña.
Last month, Metro Global had announced it was incorporating an infrastructure subsidiary to handle transportation and communication-related projects.
The special purpose vehicle company will be called Metro Renewable Transport Solutions, Inc., and will engage in projects such as buildings, roads, bridges, railways, ports, highways and other passages.
Metro Global’s main businesses are its equity investments in the railway operators behind Metro Rail Transit. Since 2018, it has also started venturing into renewable energy through solar farms.
The company continued posting losses in the first semester, which amounted to P2.15 million, as its operations remain limited to being a holding company. Trading of its shares at the stock exchange has been suspended since February 2007. — Denise A. Valdez
