Trackway Consortium led by businessman and inventor Francis Yuseco Jr. is reviving an unsolicited offer to implement a dedicated bus system on Edsa.
In a Dec. 18 letter to the Department of Transportation, Yuseco said he had received the backing of a private equity company to finance its P10-billion Edsa Rapid Trackway project.
“With so many countries scrambling for funds to build or rebuild major infrastructure projects, our consortium will definitely avail itself of this rare offer once the Department of Transportation qualifies us as the original proponent of our Edsa Rapid Trackway project,” Yuseco, CEO of Trackway Consortium, said in the letter.
Yuseco added that Davidson Single Family Private Trust Co. had offered to underwrite the project, which would complement the existing Metro Rail Transit Line 3.
The project will involve the initial deployment of 250 double-deck buses. Moreover, the consortium will build so-called Sky Stations, which will come equipped with escalators, elevators, waiting lounges and convenience stores.
Once implemented, Trackway Consortium will be able to transport more than a million passengers a day.
Other members of the consortium are DLTB and Del Monte Motor Works, Micrologics Systems Inc., FEMP Safety Engineers, Land Excel Consulting Co., AirSpeed International Freight Forwarders, BACS Engineering Services and Leechiu Property Consultants.
Yuseco said the offer was also free of government guarantees.
“At the risk of being repetitive, our project will create thousands of new jobs, boost multi-downstream industries, decongest Edsa and uplift the international credit standing of the Philippines,” he said in the letter.