MANILA, Philippines - Mall developer SM Prime Holdings Inc. found an ally in diversified conglomerate San Miguel Corp. (SMC) on the issue of the proposed common station for the Metro Rail Transit (MRT) and Light Rail Transit (LRT).
Transportation Secretary Joseph Emilio Abaya told reporters yesterday on the sidelines of the The Ports Summit organized by the Port Users Confederation Inc. that Universal LRT Corp. (ULC) is pushing for the construction of a common station in front of the SM City North EDSA to link the proposed P63 billion MRT-7 with MRT-3 along EDSA.
“MRT-7 came to us with a certain proposal of another common station in front of SM,” Abaya said.
He pointed out that ULC which is owned by SMC’s San Miguel Holdings Corp. is studying whether the group could absorb the construction cost for the proposed common station.
“I think they have enough elbow room,” Abaya replied when asked who will shoulder the construction cost of the proposed common station in front of SM City North EDSA.
In 2008, the Department of Transportation and Communications (DOTC) and ULC signed a contract to build the 22.8-kilometer rail system from North Avenue corner EDSA in Quezon City, passing through Commonwealth Avenue, Regalado Avenue and Quirino Highway up to the proposed Intermodal Transportation Terminal in San Jose del Monte, Bulacan
The MRT-7 project is expected to carry two million passengers a year. SMC is in the middle of completing the financial closing for the project.
The DOTC chief said the proposed common station of the proponents of the MRT-7 have been forwarded to the Light Rail Manila Consortium (LRMC).
“We showed it to LMRC and we are awaiting their decision. LRMC might have a similar solution or a different proposal that we need to reconcile,” he added.
The DOTC and LRMC signed the concession agreement for the P65 billion LRT-1 Cavite extension project that would extend the mass transit system all the way to Niog in Bacoor, Cavite from Baclaran in Pasay City.
The lead member of the group is infrastructure giant Metro Pacific Investments Corp. through MPIC Light Rail Corp. with 55 percent followed by Ayala’s AC Infrastructure Holdings Corp. with 35 percent and Macquaire Infrastructure Holdings (Philippines) Pte Ltd. with 10 percent.
Abaya said the issue on the transfer of the proposed P1.4 billion common station to the Trinoma Mall of conglomerate Ayala Corp. instead of SM City North EDSA is still pending with the Supreme Court.