MANILA, Philippines — Philippine Infradev Holdings Inc., the listed infrastructure company chaired by Ren Jinghua, officially commenced soil testing for its proposed 10-kilometer intracity subway in Makati.
The company, formerly named IRC Properties Inc., will implement a six-month geo-testing that involves drilling small holes and getting soil and rock samples for analysis from at least 200 points along the proposed subway alignment.
The move is part of preliminary works prior to official groundbreaking of the $3.7 billion infrastructure project.
The ceremonial drilling in front of the old Makati City Hall was witnessed by top IRC executives along with Makati Mayor Abby Binay, Vice Mayor Monique Lagdameo, former vice president Jejomar Binay and other city officials.
Mayor Binay is fully committed to seeing the project’s timely completion and operation.
“It will make a lasting positive impact on the lives of our residents and workers, and contribute significantly to the city’s sustainable development and economic growth,” she said, hailing the proposed subway as a very valuable legacy to the country’s premier financial district.
Binay and Jinghua also led the unveiling of a scale model of Makati City, highlighting the proposed subway route.
Last October, Makati’s Public-Private Partnership (PPP) Selection Committee gave the green light to IRC to proceed with the $3.7 billion subway project after the firm hurdled a 30-day competitive Swiss challenge.
Binay said there would be no cash out from the city government.
Makati will only contribute the land it currently owns which will be used in the subway system.
The subway will connect key points in Makati such as the current Central Business District along Ayala Avenue, Makati City Hall, the Poblacion Heritage Site, the University of Makati, Ospital ng Makati and the other new business districts within the city.
It will be a proposed dual track subway system that will have up to 10 air-conditioned, underground island stations.
The system can accommodate up to six car trains, with a room for over 200 persons per car, with over 700,000 passengers per day to be accommodated and served by the proposed mass transport system.
During the construction phase, the project is expected to generate more than 6,000 jobs, IRC said.