LISTED Metro Global Holdings Corp. is proposing an P11.5-billion mass transport project, which includes an electric-powered monorail system, in Baguio City.
The company is “proposing to the local government an P11.5-billion mass transport project composed of a four-kilometer elevated monorail around the central business district area and a series of feeder lines to be composed of battery-powered buses in an aim to make Baguio City the first urban center to pilot the green ecosystem and electric-powered monorail system,” the Public Information Office of Baguio City said in an announcement posted on its official Facebook page on Saturday.
To recall, the company signed a memorandum of understanding with Baguio City on Sept. 3 last year for the development of an intelligent transport system.
The plan is a “sustainable long-term strategy to urban mass transport management for Baguio City by easing traffic congestion, improving traffic management, minimizing environmental impact, and increasing benefits of transportation to the public in general,” Metro Global said in a disclosure to the stock exchange on Nov. 9 last year.
Metro Global has a new subsidiary called Metro Renewable Transport Solutions, Inc., whose primary purpose is to engage in infrastructure development.
The Securities and Exchange Commission approved the incorporation of Metro Renewable on Oct. 23 last year.
Metro Renewable “is intended to be the special purpose vehicle company to undertake new public transport system projects of Metro Global that offers access to multiple transport options using one interface that includes monorail, trolleybus, electric bus and similar electricity-fed transport,” the company said.
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. — Arjay L. Balinbin