26 Japanese firms interested in MRT-3 privatization

MANILA, Philippines — After a market sounding activity in Tokyo, the Department of Transportation (DOTr) said on Thursday that 26 Japanese companies are eyeing to invest in the privatization of the Metro Rail Transit 3 or MRT-3.

The DOTr said the government conducted the activity as part of the modernization efforts of the rail line under a public-private partnership or PPP scheme.

Transportation chief Giovanni Lopez said the number of interested firms for the project reflects the private sector’s confidence in the Philippine railway sector.

“The MRT-3 PPP is more than an investment opportunity – it is an invitation to potential investors to help reshape how millions of Filipinos can swiftly move every single day,” Lopez said.

With the Philippines among the most congested countries in Asia, the DOTr stressed that inadequate mass transport takes a toll on the daily lives of Filipinos.

“At the end of the day, our goal is actually very simple: to help people save precious time,” DOTr Assistant Secretary for railways Eduardo Danilo Macabulos said.

The DOTr said the government would pitch investment opportunities for private firms to operate and maintain other railway systems in the country, including the North-South Commuter Railway and Metro Manila Subway Project.

The Light Rail Transit-2 and Philippine Automated Fare Collection System PPPs will also be opened to investors.

“We are committed to building a railway system our people rightfully deserve, and we look forward to partnering with the private sector to help make this vision a reality,” Lopez said.