Metro Manila (CNN Philippines) — Last Saturday (September 12), the Light Rail Manila Corp. (LRMC) — a venture owned in part by Metro Pacific Investments Corp. (MPIC) and Ayala Corp. — took over the reins of the LRT-1, Metro Manila’s oldest light rail system.
In a statement on Monday (September 14), Ayala Corp. Chairman and CEO Jaime Augusto Zobel de Ayala said that the consortium “is taking over a train system that is severely deteriorated.”
The LRMC will operate and maintain the system for 32 years. It is also planning to extend the line further south to Bacoor, Cavite. The move would lengthen the line to 32.4 kilometers from the current 20.7 kilometers. According to Ayala, the line currently serves about half a million passengers.
The conglomerate also said that 100 Light Rail Vehicles (LRVs) are to be delivered to the consortium upon its take-over. However, “approximately 77 of the LRVs are in running condition.”
Apart from Ayala and MPIC, Macquarie Infrastructure Holdings (Philippines) Pte. Ltd. is also part of the joint venture.
Barring any delays, Ayala said that new trains are scheduled to arrive in 2017 as part of the government’s obligations in the concession agreement.
“We consider the DOTC [Department of Transportation and Communications] and LRTA [Light Rail Transit Authority] to be our partners in this project, and will work to improve the Line over time, and make it a system that our commuters will not only enjoy riding, but one they can be truly proud of,” said LRMC Chairman Manuel Pangilinan, who is also chair of MPIC.
