IRC Properties, Inc. bagged original proponent status from the Makati government for its proposed $3.7-billion intra-city mass transport system within the city.
In a disclosure to the stock exchange on Wednesday, June 20, IRC said Makati City has accepted its proposal for a joint venture that seeks to establish and operate the Makati Mass Transport System.
The IRC-led consortium includes international partners, namely Greenland Holdings Group, Jiangsu Provincial Construction Group Co. Ltd., Holdings Ltd., and China Harbour Engineering Company Ltd.
The consortium looks to construct an 11-kilometer intra-city railway system with eight- to 10 stations at no cost to the government. — Arra B. Francia