P18-B Metro Manila Subway Phase 1 contract signed

Department of Transportation (DOTr) Secretary Arthur Tugade, signed Thursday, May 5, the P17.75 BIllion contract for two stations and tunnels of the P488 Billion Metro Manila Subway Phase 1, Contract Package 104 (CP104), with the Tokyu-Tobishima Megawide Joint Venture (TTM-JV).

The CP104 contract includes the construction of two underground stations and tunnels at Ortigas North and Ortigas South.

The Phase 1 project has a contract value of P13,261,303,173.01 and a Japanese yen component of JPY 11,227,496,171.00 (approximately P4.49 billion), which sums up to P17.75 billion.

The Right-of-Way Usage Agreements (ROWUA) between the DOTr and various companies – Robinsons Land Corporation, Ortigas & Company Limited Partnership, Blemp Commercials of the Philippines and Megaworld Corporation was also signed during the event held in Edsa Shangri-la, Mandaluyong. .

The ROWUA will speed up the construction of the subway.

Japanese Ambassador to the Philippines, His Excellency Kazuhiko Koshikawa was with Tugade and winning CP104 contractor TTM-JV during the signing ceremony. Representatives of the Japanese Embassy, the Japan, Japan International Cooperation Agency (JICA) and private partners of the project also witnessed the signing.

The DOTr targets to partially open the subway by 2025, with full operations slated by 2027.

The Metro Manila Subway is one of the Philippines’ largest infrastructure projects aimed at creating an efficient rail system in the world’s most densely populated city.

Funded by the Japanese government, the subway will run from Valenzuela City to the Ninoy Aquino International Airport (NAIA) Terminal 3 in Pasay.

The 35-kilometer line will consist of 15 underground stations and will reduce travel time between Quezon City and NAIA from one hour and 10 minutes to 35 minutes.

Once operational, the subway can accommodate up to 1 million passengers per day.

“As the Joint Venture’s Filipino partner, we are honored for the opportunity to once again participate in our country’s infrastructure development,” remarked Edgar Saavedra, Megawide Chairman and CEO.

Tokyu Construction Co., Ltd. is one of the established Japanese general contractors engaged in commercial, institutional, and residential buildings as well as civil engineering works for dams, bridges, and transportation systems.

It led the redevelopment of the Tokyo Metro Ginza Line Shibuya Station located at the center of Shibuya, a key district in Tokyo.

Likewise, Tobishima Corporation is one of Japan’s leading general contractors, involved in large-scale civil engineering works for hydro-electric power plants, dams, and railroads, with onshore and offshore projects located in Brunei Darussalam, Indonesia, Pakistan, and Myanmar, among others.

*****
Credit belongs to : www.mb.com.ph

Check Also

Stocks to watch for Nov. inflation rate

The week may start with some bargain hunting following the PSEi’s plunge last Friday after …