Metro Manila (CNN Philippines) – Transportation Secretary Joseph Emilio “Jun” Abaya said the deal for the construction of the Metro Rail Transit Line 7 (MRT-7) was not rushed in time for the upcoming elections.
Abaya said the project has been in the works for years.
In fact, he explained the implementing guidelines for the project was signed a year and a half ago, and the private concessionaire of MRT-7 is now preparing to break ground.
In a recent statement, Universal LRT Corp BVI Ltd (ULC), led by San Miguel Corp, said it has secured the financial aspect of the deal.
“So after nun katungkulan ng concessionaire na kausapin ang magpapa-utang sa kanila at to do this financial close. Nasa kanila ang bola so naghihintay lang kami,” Abaya said.
[Translation: “So after that, it is the concessionaire’s duty to speak to potential investors and do this financial closure. The ball is in their hands, so we are just waiting.”]
Under the contract, ULC will finance, build, operate and maintain a 23-kilometer elevated railway from Bulacan to the MRT North Avenue station in Quezon City.
“We look forward na matuloy itong MRT-7. How soon? It’s up to them, after nito we are monitoring and supervising them,” Abaya said.
[Translation: “We look forward to the completion of MRT-7. How soon? It’s up to them, after this we are monitoring and supervising them.”]
