The group of tycoon Andrew Tan has submitted an unsolicited proposal to build a two-kilometer monorail from Fort Bonifacio to the MRT Guadalupe Station, seeking to boost connectivity for commuters amid worsening traffic conditions in the metropolis.
The “Skytrain” proposal was submitted to the government this week by Infracorp Development Inc., a new company created by Alliance Global Group Inc. (AGI) to handle infrastructure projects, particularly to participate in the government’s private-public partnership (PPP) projects.
In submitting this proposal, Infracorp said the project could benefit 60,000 to 100,000 passengers daily, AGI disclosed to the Philippine Stock Exchange.
For AGI, the diversification into infrastructure-building is seen aligned with the Duterte administration’s promise to usher in a “golden age of infrastructure” in the country.
“Given the country’s strong and stable economy, we see a huge opportunity to invest in infrastructure. We are excited to participate and optimistic about the government’s aggressive push for infrastructure developments,” said AGI executive director Kevin Tan, who was also appointed president of the newly created infrastructure development firm.
The project, which will use the automated cable-propelled monorail technology, aims to reduce travel time from BGC to MRT Guadalupe to only five minutes. The estimated project cost was not disclosed.
Under the proposal, a station would be built in Guadalupe near the MRT station and another in Uptown Bonifacio, a township development of AGI’s real estate arm Megaworld, at no cost to the government.
If and when approved, the monorail project will take three years to construct. It is also proposed to be interconnected with the government’s planned subway system project passing through Fort Bonifacio.
“Funding of the project will be internally generated as part of AGI’s existing capex (capital expenditure) program. We cannot disclose the exact amount of the investment yet until the government gives us the go-signal to proceed. We will follow the rightful process of this exercise,” Tan said.
The next step for the company is to await certification from the government for an original proponent status, after which the project will still be subjected to a Swiss challenge, which means other bidders will be invited to submit alternative offers but the original proponent has the right to match the best rival package.
Apart from the “Skytrain” project, the disclosure said Infracorp was also looking at other potential infrastructure projects, particularly on transport solutions, in several business districts around Metro Manila and in key growth areas around the country.