Wazzup Pilipinas!
The Department of Transportation and Communications (DOTC) awarded its biggest Public-Private Partnership (PPP) project so far, the P 65-Billion Light Rail Transit Line 1 (LRT-1) Cavite Extension (Cavex) Project, to the Light Rail Manila Consortium (LRMC) yesterday, 12 September 2014.
“We are pleased to push the project forward for the sake of the riding public, especially those who live in the southern part of Metro Manila such as Pasay, Parañaque, Las Piñas, and Muntinlupa, as well as Cavite. This project will level the playing field for them, giving them convenient access to employment and educational opportunities in the metropolis,” said DOTC Secretary Jun Abaya.
LRMC now has twenty (20) days to comply with post-award requirements, including the payment of 10% of its P 9.35-Billion premium bid amount, after which the Concession Agreement may be executed by the parties.
The award is subject to the final decision of the Supreme Court (SC) with respect to the Common Station project, which will connect LRT-1, Metro Rail Transit Line 3 (MRT-3) and MRT-7 at the EDSA-North Avenue area.