MANILA, Philippines — The Department of Transportation said yesterday that 100 local and international companies are eyeing to invest in the Metro Rail Transit 3, following the DOTr confirmation on the privatization of MRT-3.
DOTr said the agency was able to garner potential investors for the government-run MRT-3 after it conducted a year-long market-sounding activity with the Asian Development Bank in Singapore and Japan.
“Through public-private partnership (PPP), we bring in the expertise and investment this line needs. What we need is an investor that has a long experience of managing railway systems for the benefit of our commuters,” DOTr Secretary Giovanni Lopez said.
While a private firm would be handling the management of MRT-3, Lopez said the DOTr would retain its authority over the train fares. The DOTr would pay the private operator depending on its delivery of train services and compliance with prescribed performance standards.
“Performance standards will cover train availability and reliability, on-time performance, and the cleanliness and proper maintenance of trains and facilities, ensuring that the private operator is held accountable for the quality of service delivered to commuters,” Lopez said.
MRT-3 is currently implementing an across-the-board half-price fare discount in all 13 stations along EDSA, serving more than 388,000 passengers daily.
The DOTr said the PPP would support the MRT-3 modernization through fleet replacements and system resignaling to improve its capacity, reliability and operational efficiency.
Lopez said the concessionaire would be chosen by the second quarter of 2027 after the P103.6-billion MRT-3 is opened for bidding this year.