THE PROPOSED $3.7-billion subway in the country’s financial district may break ground by the end of 2018, the Makati City government said.
In a statement on Thursday, Makati City Mayor Abigail S. Binay said the Swiss challenge for the urban rail system proposed by a consortium led by IRC Properties, Inc. is set to end by Sept. 24.
The IRC-led consortium was granted original proponent status for the Makati Mass Transport System, an unsolicited public-private partnership proposal for a 10-kilometer dual-track subway system connecting the central business district to other parts of Makati.
IRC earlier said it is partnering with international firms Greenland Holdings Group, Jiangsu Provincial Construction Group Co. Ltd., Kwan On Holdings Ltd., and China Harbour Engineering Company Ltd. for the Makati subway project.
Under the Swiss challenge, the project of the original proponent is allowed to be contested by third party companies, which it then may match.
“This mass transport system is Makati’s most ambitious PPP project to date. It’s part of my vision to make Makati the country’s first digital city — a city that is future-proof, connected and innovative without losing its cultural heritage and identity,” Ms. Binay was quoted as saying.
Ms. Binay said the project will not require any cash out from the city government since Makati will only contribute the land it currently owns for the subway.
The subway is seen as a solution to easing the traffic in Makati’s central business district by linking key points in the area such as Ayala Avenue, Makati City Hall, Poblacion Heritage Site, University of Makati and Ospital ng Makati, among others. — D.A.Valdez