Andrew Tan proposes 2km Fort Bonifacio-Guadalupe ‘Skytrain’
October 12, 2017
The group of tycoon Andrew Tan has submitted an unsolicited proposal to build a two-kilometer monorail that will link Fort Bonifacio to the MRT Guadalupe Station, seeking to boost connectivity for commuters amid worsening traffic conditions in the metropolis.
The proposal was submitted by INFRACORP Development Inc., a new company created by conglomerate Alliance Global Group Inc. (AGI) to handle infrastructure projects, particularly to participate in the government’s private-public partnership (PPP) projects.
This diversification into infrastructure is in line with the Duterte administration’s promise to usher in a “golden age of infrastructure” in the country, the conglomerate said.
INFRACORP submitted the unsolicited proposal “Skytrain” this week, pitching to benefit around 60,000 to 100,000 passengers daily, based on AGI’s disclosure to the Philippine Stock Exchange on Wednesday.
The project, which will utilize the automated cable-propelled monorail technology, will reduce travel time from Fort to MRT Guadalupe to only five minutes, the disclosure said.
Under the proposal, a station will be built in Guadalupe, Makati 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.
“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 is also appointed president of INFRACORP.
If and when approved, the Skytrain 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 gosignal to proceed. We will follow the rightful process of this exercise,” Tan said.
INFRACORP is also looking into other potential infrastructure projects, particularly on transport solutions, in several business districts around Metro Manila and in key growth areas around the country. –By: Doris Dumlao-Abadilla