Pangilinan: MRT-3 buyout talks continuing

METRO Pacific Investments Corp. sees progress in its plan to buy Metro Rail Transit Corporation from the government, MPIC Chairman Manuel V. Pangilinan said.

“When we say progress, it means there are discussions,” Pangilinan told reporters in Quezon City on Tuesday on the sidelines of the launch of a digital tollways program for expressways in Luzon.

Pangilinan said that MPIC was in talks with the Department of Transportation to pursue its buyout plan for MRT-3.

Earlier, undersecretary for rails Cesar Chavez said that he wanted MRT-3 to be privatized then placed under the management of the Light Rail Transit Authority, operator of the LRT-2.

Pangilinan said MPIC had not decided on a specific amount of investment for MRT-3 yet.

“There are no hard estimates because it’s rather complicated,” he said.

Light Rail Manila Corporation president and chief executive officer Rogelio Singson has said that the problem with MRT-3 was that it is owned by the government.

“The difficulty with government is they are governed by very strict procurement laws. In the case of the private, when I need a spare part, I will just buy it,” Singson said in a TV interview.

LRMC is a joint venture of Metro Pacific Investments Corporation’s Metro Pacific Light Rail Corporation (MPLRC), Ayala Corporation’s AC Infrastructure Holdings Corporation (AC Infra), and the Philippine Investment Alliance for Infrastructure’s Macquarie Infrastructure Holdings (Philippines) PTE Ltd. (MIHPL).

MPIC President Joey Lim said their company could develop the MRT-3 and make it profitable like the LRT-1.

“If we can make our Light Rail Transit-1 profitable, we are certain we can make our MRT-3 just as efficient,” Lim has said.

MPIC plans to buy out MRT-3 stakeholders

Infrastructure conglomerate Metro Pacific Investments Corp. (MPIC) is planning to buy out the stake of the government and other shareholders in the Metro Rail Transit Line 3 (MRT-3).

MPIC chairman Manuel V. Pangilinan told reporters yesterday the company is open to buy out the stake of the government and other shareholders of the MRT-3 system, which runs from North Avenue in Quezon City to Taft station in Pasay City.

“We said in principle we’re prepared to do that,” he said.

Pangilinan also said there have been recent discussions between the MPIC and the Department of Transportation as the firm submitted a new proposal to rehabilitate and improve the MRT-3.

Under the new proposal, the firm would invest about P12 billion to rehabilitate the train system and there would be no increase in fares for at least two years.

MPIC is working with Ayala Corp. and Macquarie Infrastructure Holdings (Philippines) Pte Ltd., its partners for the Light Rail Transit Line 1 Cavite Extension, for the new proposal to rehabilitate the MRT-3.

MPIC first submitted a $500 million proposal to rehabilitate the MRT-3 in 2011.

The proposal was thumbed down, however, as the offer involved hiking fares for the MRT-3.

Earlier, MPIC also expressed interest to buy out the government’s stake in the train system.

In 2011, MPIC said it was open to partner with local or foreign groups to acquire the shares held by government financial institutions Land Bank of the Philippines (Landbank) and Development Bank of the Philippines (DBP) in the MRT-3.

Landbank and DBP hold a combined 80-percent economic interest in Metro Rail Transit Corp. (MRTC), the private owner of the train system.

MPIC has also signed a cooperation agreement earlier, with various groups holding rights and interests in the MRT-3 to acquire a 48 percent stake in MRTC. The firm has yet to exercise that option.

Under the previous administration, the government was looking to implement the equity value buyout (EVBO) of MRTC to solve issues over the train system’s ownership and to put an end to its need to pay for equity rental payments for the MRT-3.

The buyout was never implemented amid an arbitration case filed by MRTC before a court in Singapore and as the previous administration was not able to forge an agreement with Landbank and DBP.

Pangilinan said it is important to give attention to the MRT-3 as the train system has been through a series of breakdowns in the past years.

“We all know the MRT-3 has had quite a number of issues for the past many years so, we want to resolve those issues for the benefit of commuters. I am sure the government shares that objective as well,” he said.

Manny Pangilinan's group mulls buying out MRT3 owners

Manuel "Manny" Pangilinan, the chairman of listed infrastructure conglomerate Metro Pacific Investments Corporation (MPIC), plans to buy out Manila's most congested railway system, the Metro Rail Transit Line 3 (MRT3) from its owners – a move seen as needed for the railway's upgrade and proper maintenance.

"We said in principle we're prepared to do that (buyout)... The tentative cost of rehabilitating the system is about P12.5 billion, but there'll be further cashout to take out certain shareholders of MRT, including the government," Pangilinan told reporters on the sidelines of an event in Quezon City on Tuesday, August 22.

MRT Corporation (MRTC) is the private group that was a signatory to the build-lease-transfer (BLT) agreement for the MRT3 in 1997. (READ: When the MRT was awesome)

Companies behind the MRT3 include Astoria Investments of the Ayala group, Anglo Philippine Holdings of the National Bookstore group, Railco Investments of the Ramcar Group, Sobrepeña-led Metro Global Holdings Corporation, Sheridan LRT Holdings of the Unilab group.

The government holds a 77% economic interest in MRTC through Land Bank of the Philippines (Landbank) and Development Bank of the Philippines (DBP) by virtue of its acquisition of asset-backed bonds issued by MRTC's original owners in 2009. This secured the government 11 out of 14 seats on the board but did not give it equity ownership.

Meanwhile, MPIC has an option to acquire a 48% stake in MRTC after signing cooperation agreements with the various groups that hold rights and interests in the company. MPIC, however, has yet to exercise this option.

Pangilinan said his group has yet to submit a formal buyout proposal to the government. "We don't know what the quantum of that cashout is. There will be maintenance capex, O&M (operations and maintenance) expenses and, of course, concession fees payable to the government. These things will have to be discussed with the government in due course."

Separate rehabilitation plan

Pangilinan said his firm has already informed the Duterte administration of its P12.5-billion plan to revive its unsolicited proposal for the MRT3 upgrade.

"There's a discussion. For me, that's a good sign. By no means am I indicating there is an agreement," Pangilinan said. (READ: How did the MRT3 mess start?)

During the administration of former president Benigno Aquino III, MPIC had submitted a revised P23.3-billion proposal to rehabilitate and upgrade the MRT3.

The revised offer, which was a scaled-down version of a P25.1-billion proposal submitted in 2011, included the rehabilitation of existing train cars, 25 additional coaches, a new signaling system, and settlement of equity rental payments held by government financial institutions.

The Aquino administration, however, sat on this proposal.

Earlier this month, Ayala Infrastructure Holdings president and chief executive officer Rene Almendras said the conglomerate will participate in MPIC's unsolicited proposal to rehabilitate the MRT3.

The terms of the joint venture partnership, however, have yet to be finalized.

The two conglomerates are also partners in the operations and maintenance of the Light Rail Transit Line 1 (LRT1) and the LRT1 Cavite Extension project under joint venture company Light Rail Manila Corporation.

The MRT3, which runs along EDSA from North Avenue in Quezon City to Taft Avenue in Pasay City, serves more than 500,000 passengers per day, or way beyond its rated capacity of 350,000.

https://www.rappler.com/business/179719-proposed-mrt3-buyout-metro-pacific-pangilinan

Feasibility study for Subic-Clark Cargo Railway now up for NEDA board approval

The feasibility study for the P57.2-billion Subic-Clark Cargo Railway project is now up for National Economic and Development Authority (NEDA) for approval, which, if obtained, could already pave the way for state-run Bases Conversion and Development Authority (BCDA) to start the project before the year ends.

Subic-Clark Cargo Railway Project is a 77-kilometer rail connection linking Subic Port with Clark International Airport mainly to reduce the number of trucks travelling in Metro Manila and lower the prices of goods.

The project also aims to increase Subic Port Utilization and compliment airport operation in Clark.

“NEDA is now on the process of reviewing the feasibility study. This would most likely be an ODA (Official Development Assistance) project,” BCDA President and Chief Executive Officer Vivencio Dizon said during the 6th Business Forum of The Manila Times.

Both Chinese and Japanese governments have already looked at the project for potential funding.

BCDA is targeting to start the project this year so it could complete it by 2022. Start date of projects will include pre-work and pre-planning stages such as conceptualization or feasibility studies.

Aside from this new terminal, BCDA is also implementing other infrastructure projects within the Clark area with the Department of Transportation (DOTr). These are the P105-billion Manila-Clark Railway (Phase 1), the multibillion-dollar New Clark City, and the P15.34-billion Clark International Airport New Terminal Building.

Right now, BCDA is on the process of getting Engineering, Procurement, Construction (EPC) contractor for the project, which happens to be the first to fall under the hybrid public-private partnership (PPP) scheme of the government.

Dizon said BCDA had so far attracted 10 prospective, mostly foreign, for the construction of the new passenger terminal.

Among the companies that are vying for the contract are two of the country’s major infrastructure players, Megawide Construction Corp. and Metro Pacific Investments Corp. (MPIC), as well as POSCO, a multinational infrastructure company that built South Korea’s Incheon International Airport, which is one of the best airports in the world.

Dizon noted that the auction for EPC contract will be done separately with the bidding for the terminal’s operation and maintenance (O&M) contract.

The O&M of the existing and proposed new terminal building of Clark airport will also be bid out to the private sector through PPP. Once the new terminal is constructed, the O&M will be operated by the winning private partner.

http://business.mb.com.ph/2017/08/22/feasibility-study-for-subic-clark-cargo-railway-now-up-for-neda-board-approval/

PH set to begin $13-B worth of Japan-funded rail projects

Four high-profile infrastructure projects in the Philippines worth around P676 billion ($13.3 billion) and to be funded by loans from Japan are scheduled to start construction next year, including a subway system in Manila, Philippine officials said Tuesday.

Transportation undersecretary Cesar Chavez told a forum that the loan agreement for the P230-billion first phase of the subway project will be signed when Japanese Prime Minister Shinzo Abe visits Manila in November for regional summits led by the Association of Southeast Asian Nations.

Chavez said construction of the 23-kilometer, 14-station subway is expected to be completed by 2024, but authorities are looking to see if five stations can be opened at an earlier date.

Also among the projects in which construction is set to begin in 2018 are three railway extension projects connecting Metro Manila to provinces north and south of the capital.

These include a P105-billion, 38-km track connecting Manila with Bulacan province, to its north, and P211-billion, 69-km track extending from there to adjoining Pampanga province.

On Manila's south side, a P130-billion, 72-km railway will connect it with the province of Laguna.

Finance Secretary Carlos Dominguez said that while negotiations with the Japanese side have yet to conclude, interest rates for the loans will likely stay significantly below 1 percent per annum.

Dominguez also said that there will be a likely grace period of seven to 10 years, depending on the project, while the payment period will range from 30 to 40 years.

The Philippine government is planning to spend $160 billion for infrastructure development during the six year-term of President Rodrigo Duterte, touting it as a golden age of infrastructure for the Southeast Asian country.

About 20 percent, or $32 billion, of that would be sourced from foreign lenders while the remainder would be sourced domestically.

DPWH EARMARKS P113B: Gov’t plans to ease MM traffic in 3 years

The government is planning to ease the traffic problem in Metro Manila in three years or by 2020, through the completion of by-pass roads and bridges and major expressway projects.

The Department of Public Works and Highways (DPWH), which obtained the second highest budget this year at P467.6 billion next to the Department of Education, has earmarked a big portion of this, or P113.1 billion, for traffic decongestion specially in Metro Manila. The budget is expected to increase to P160.1 billion by next year.

The investment will be used to implement the high standard highway, expressway construction, widening of national roads and bridges, and construction of bypasses/diversion roads, flyover, interchange and underpass.

Mark Villar, DPWH secretary, said Metro Manila’s landscape will change by 2020 once the major expressway projects such as Metro Manila Skyway Stage 3 (MMSS3)and the North Luzon Expressway (NLEX)-South Luzon Expressway (SLEX) connector road are completed.

“We have already started the right-of-way acquisition for the connector. We will be opening the first ramp of the Skyway extension by first quarter next year and we awarded the Sta. Monica bridge, then we will finish the first phase of Laguna Lake Highway,” Villar said.

Construction of the NLEX-SLEX connector road project of Metro Pacific Investments Corp. will start by fourth quarter this year. This will cut travel time between NLEX and SLEX to 15 to 20 minutes, from the current more than an hour travel.

San Miguel Corp.’s MMSS3 project,a 14.8-kilometer, six-lane elevated expressway, will connect SLEX and NLEX from Buendia in Makati to Balintawak. This will reduce travel time from two hours to 20 minutes.

Villar had said the MMSS3 from SLEX will be accessible up to President Quirino avenue in Manila by second quarter next year.

These projects are part of the Luzon Spine Expressway network, which is composed of 18 projects, with some under public-private partnership, private sector and the government.

This is an expressway network from 385 km to 1,040 km high standard highways in Luzon. Travel time from La Union to Bicol would be eight hours and 15 minutes.

MMSS3, which started its construction in 2015, will be completed by 2019, while the NLEX-SLEX connector road project will be done by 2021.

The Laguna Lake Highway is expected to be completed in 2018. From Taytay to Bicutan, travel will be in 30 minutes.

The Southeast Metro Manila Expressway-C6 from Bicutan to Batasan will bring travel time to 26 minutes once completed.

Other projects are the Cavite-Laguna Expressway, the Radial Road 10 from Manila to Navotasfor travel in 30 minutes which will be completed this year and the NLEX Harbor Link Segment 10 to be completed by 2018.

The Metro Manila logistics improvement project will increase the 26 bridges to 38 bridges crossing Pasig River, Marikina and Manggahan Floodway by the end of the administration.

The bridges projects involve the Bonifacio Global City-Ortigas Center link road to be completed by 2020,Binondo-Intramuros bridge, Estrella-Pantaleon bridge, and Metro Manila priority bridges seismic improvement project Guadalupe bridge and Lambingan bridge for completion in 2021.

The Duterte administration has programmed an P8.9-trillion budget for infrastructure from 2017 to 2022.

According to the Japan International Cooperation Agency study in 2014, traffic congestion in Metro Manila is costing the Philippines at least P2.4 billion daily. If left without intervention, this is likely to reach P6 billion a day by 2030.

Preliminary analysis in the study showed the average low-income group households have to spend no less than 20 percent of their monthly household income for transport.
Without intervention, traffic demand will likely increase by 13 percent by 2030, and transport cost will be 2.5 times higher.

http://malaya.com.ph/business-news/business/dpwh-earmarks-p113b-gov%E2%80%99t-plans-ease-mm-traffic-3-years

Mga awitin sa kasal

MAALAALA MO KAYA

Constancio de Guzman

Huwag mong sabihing ika’y hamak

Kahit na isang mahirap

Pagka’t ang tangi kong pag-ibig

Ganyan ang hinahanap

Aanhin ko ang kayamanan

Kung ang puso’y salawahan

Ang nais ko’y pag-ibig na tunay

At walang kamatayan

Maalaala mo kaya ang sumpa mo sa akin

Na ang pag-ibig mo ay sadyang di magmamaliw

Kung nais mong matanto, buksan ang aking puso

At tanging larawan mo ang doo’y nakatago

Di ka kaya magbago sa iyong pagmamahal

Hinding-hindi giliw ko hanggang sa libingan

O kay sarap mabuhay, lalo na’t may lambingan

Ligaya sa puso ko ay di na mapaparam

MINSAN LANG KITA IIBIGIN

Aaron Paul del Rosario
Album: Simple Lang

Mahal, pangako sa iyo
Hindi magbabago
Ikaw lang ang iibigin ko
Kahit Ikaw ay lumayo
At masaktan ako
Asahan na 'di maglalaho
Ang pag-ibig ko'y alay sa'yo lamang
Kung kaya giliw dapat mong malaman.
Minsan lang kitang iibigin
Minsan lang kitang mamahalin
Ang pagmamahal sa'yo'y walang hangganan
Dahil ang minsan, ay magpakailanman.
Minsan lamang sa buhay ko
Ang 'sang katulad mo
Ako rin ba'y iniibig mo
Dinggin puso'y sumasamo
Sinusumpa sa'yo
Ikaw ang tanging dalangin ko. (*)
Minsan lang kitang iibigin
Minsan lang kitang mamahalin
Ang pagmamahal sa'yo'y walang hangganan

Dahil ang minsan, ay magpakailanman.
Dahil ang minsan, ay magpakailanman.

MULA SA PUSO

Vehnee Saturno

Album: Problemang Puso

Bakit nga ba ang puso

Pag nagmamahal na

Ay sadyang nakapagtataka

Ang baawa't sandali

Lagi nang may ngiti

Dahil langit ang nadarama

Para bang ang lahat ay walang hangganan

Dahil sa tamis na nararanasan

Kung mula sa puso ay tunay ngang ganyan

Nais ko'y ikaw ang laging yakap-yakap

Yakap na sana'y walang wakas

Sana'y laging ako ang iniisip mo

Sa maghapon at sa magdamag

Init ng pag-ibig ating pagsaluhan

Kung mayroong hahadlang

'Di ko papayagan

Kung mula sa puso ay tunay ngang ganyan

Init ng pag-ibig ating pagsaluhan

Kung mayroong hahadlang

Aking paglalaban

Kung mula sa puso ay tunay ngang ganyan

Nais ko'y ikaw ang laging yakap-yakap

Yakap na sana'y walang wakas

Sana'y laging ako ang iniisip mo

Sa maghapon at sa magdamag

Init ng pag-ibig ating pagsaluhan

Kung mayroong hahadlang

Aking paglalaban

Kung mula sa puso ay tunay ngang ganyan

NGAYON AT KAILANMAN

George Canseco

Ngayon at kailanman

Sumpa ko’y iibigin ka

Ngayon at kailanman

Hindi ka na mag-iisa

Ngayon at kailanman

Sa hirap ko ginhawa ka

Asahan may kasama ka sinta

Naroroon ako t’wina

Maaasahan mo t’wina

Ngayon at kailanman

Dahil kaya sa ‘yo ng maitadhanang

Ako’y isilang sa mundo

Upang sa araw-araw ay siyang makapiling mo

Upang ngayon at kailanman

Ikaw ay mapalingkuran hirang

Bakit labis kitang mahal

Pangalawa sa Maykapal

Higit sa ‘king buhay

[refrain]

Sa bawat araw ang pag-ibig ko sa ‘yo liyag

Lalong tumatamis, tumitingkad

Bawat kahapon ay daig nitong bawat ngayon

Na daig ng bawat bukas

Malilimot ka lang

Kapag ang araw at bituin ay di na matanaw

Kapag tumigil ang daigdig at di ‘na gumalaw

Subalit isang araw pa matapos ang mundo’y nagunaw na

Hanggang doon magwawakas pag-ibig kong sadyang wagas

Ngayon at kailanman

[repeat refrain]

Labis kitang mahal (ngayon at kailanman)

Langit may kasama ka (ngayon at kailanman)

Ngayon at kailanman

PANGAKO SA'YO

Rey Valera

Noon akala ko

Ang wagas na pag-ibig

Ay sa nobela lang

Matatagpuan

At para bang kay hirap

Na paniwalaan

Ii.

Ikaw, ikaw pala

Ang hinihintay kong pangarap

Ngayong kapiling ka

At tayo'y isa

Hindi ko hahayaan

Na sa atin ay may hahadlang

Chorus:

Pangako sa 'yo

Ipaglalaban ko

Sa hirap at ginhawa

Ang ating pag-ibig

Upang 'di magkalayo

Kailan man

'pagkat ang tulad mo

Ay minsan lang sa buhay ko...

Repeat ii:

Repeat chorus:

For better or for worst

For richer or for poorer

In sickness and in health

Till death do us part

Upang 'di magkalayo

Kailan man

'pagkat ang tulad mo

Ay minsan lang sa buhay ko...

Repeat chorus:

Oh, lalala

Japan, Philippines set to start designing Mega Manila Subway System

Design for the PHP227 billion Mega Manila Subway will be created by Philippines and Japan starting in November, Socioeconomic Planning Secretary and National Economic and Development Authority (NEDA) Director General Ernesto M. Pernia said in a press conference today.

“The subway I think is going to be the project of the century for the Philippines. Designing of that will be in November when Prime Minister Abe will come for the ASEAN Summit,” Pernia said, as quoted by GMA News Online.

He added that during the next NEDA Board meeting in September, the said project will already be tackled.

Mega Manila Subway project phase 1 or the Manila Metro Line 9 is among its 75 priority projects.

Mega Manila Subway project phase 1 or the Manila Metro Line 9 will cover Mindanao Avenue, North Avenue, Quezon Avenue, East Avenue, Anonas, Katipunan, Ortigas North, Ortigas South, Kalayaan, Bonifacio Global City, Cayetano Boulevard, Food Terminal Inc. (FTI) and the Ninoy Aquino International Airport (NAIA).

The entire Mega Manila Subway System is envisioned to start from San Jose del Monte, Bulacan to Dasmarinas City, Cavite.

Mega Manila Subway project now up for NEDA board approval

The planned underground mass transportation system connecting major business districts and government centers in Metro Manila is up for approval by the National Economic and Development Authority (NEDA) board next month, a Cabinet official said.

Socioeconomic Planning Secretary Ernesto M. Pernia said yesterday that the proposed 25-kilometer Mega Manila Subway is among the agenda of the NEDA Board in September, which will be chaired by President Rodrigo R. Duterte.

“The subway will be taken down in the next NEDA Board meeting,” Pernia told reporters. “The subway is going to be the project of the century for the Philippines as it will cost something like $5 billion.”

He disclosed the feasibility study for the P227 billion Mega Manila Subway has already been completed after it was financed by a grant from the Japan International Cooperation Agency (JICA).

Pernia said the government aims to seal the official development assistance (ODA) loan from Japan in November while Japanese Prime Minister Shinzo Abe is attending the Association of Southeast Asian Nations (ASEAN) summit.

NEDA chief also added the government is expecting an interest rate of below one percent for the multibillion pesos ODA from the Japanese government.

Once completed, Mega Manila Subway is expected to serve around 370,000 passengers per day in its opening year, complementing the congested lines of Metro Rail Transit (MRT) and Light Rail Transit (LRT).

The Mega Manila Subway is also among the nine big-ticket infrastructure projects that the Philippines wanted to open for possible financing from Japanese government.

Among the other projects included in the list are the Dalton Pass East alignment alternative road project (P4.01 billion), the Malolos-Clark railway project (P95.368 billion) and HARVEST project (P2.05 billion).

HARVEST stands for Harnessing Agribusiness Opportunities through Robust and Vibrant Entrepreneurship Supportive of Peaceful Transformation.

Other projects with no cost estimates but included in the list are the road network development project in conflict-affect areas in Mindanao, the Circumferential Road three missing link project, and the Pasig-river Marikina Channel Improvements project (Phase IV).

Likewise, the Philippine government included the Cavite Industrial Area Flood Management project and Malitubig-Maridagao Irrigation project phase III as part of the plan that may get financing from Japan.

Pernia earlier said the nine projects are still subject to further refinement, noting the number may also change after their third-round of meeting with the Japanese representatives.

Finance Secretary Carlos G. Dominguez III said the projects will be under the “hybrid” public-private partnership scheme where the government would first build the infrastructure and later bid out the operation and maintenance of the projects to the private sector.

The finance chief also said the projects are not purely funded the Japanese government as multi-lateral institutions, like the Japan International Cooperation Agency and Japan Bank for International Cooperation, may also take part of the Philippines infrastructure push.

http://business.mb.com.ph/2017/08/17/mega-manila-subway-project-now-up-for-neda-board-approval/

PROJECT OF THE CENTURY PHL-Japan to start designing Mega Manila Subway in Nov.

Japan and the Philippines will start designing the P227-billion Mega Manila Subway in November, Socioeconomic Planning Secretary Ernesto M. Pernia said on Thursday.

"The subway I think is going to be the project of the century for the Philippines. Designing of that will be in November when Prime Minister Abe will come for the ASEAN Summit," he said in a press conference in Quezon City.

The project details will be discussed during the next National Economic and Development Authority (NEDA) Board meeting next month.

"The NEDA Board is likely to happen in September, early September," Pernia said.

"In the next NEDA Board meeting, that subway will be taken up already," he added, noting that the government is finalizing all the documents required for a contract signing before Japan Prime Minister Shinzo Abe arrives in the Philippines for the Association of Southeast Asian Nations (ASEAN) ministers meeting in November.

"'Yan ay sigurado, kasi talagang pine-prepare natin para ma-sign. Whatever the Prime Minister of Japan and the President of the Philippines sign, it will be it. Those are the main signatures," he said.

The subway was one of the rail projects Filipino and Japanese officials agreed to tackle during a meeting in Tokyo last March.

There was a draft feasibility study for the project, NEDA Deputy Director General Rolando G. Tungpalan said in June.

The P227-billion Mega Manila Subway was introduced as the Mass Transit System Loop or the Light Rail Transit Line 5 under the administration of former President Benigno S.C Aquino III.

It will be a 25-kilometer underground mass rail system connecting major business districts and government centers. It is expected to serve 370,000 passengers per day in its opening year.

The subway train line is expected to be completed in 2024, said Transportation Secretary Arthur Tugade. — VDS, GMA News

http://www.gmanetwork.com/news/money/economy/622243/phl-japan-to-start-designing-mega-manila-subway-in-nov/story/?just_in