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MANILA, Philippines – The Department of Transportation and Communications (DOTC) extended by a month the deadline for submission of qualification documents for the bidding of the P60-billion Light Rail Transit (LRT) Line 1 Cavite Extension Project to allow more investors to participate.
The deadline was extended from August 22 to September 28, 2012.
“[This is] in response to the request of several prospective bidders for more time to prepare the qualification documents and in light of the recent revisions to the instructions to prospective bidders,” said the DOTC in a special bid bulletin issued on Friday, August 17.
Over a dozen notable local and international companies have purchased pre-qualification documents. They include San Miguel Infra, Macquarie Group, Mitsubishi Corp, D.M. Consultant, Inc, Hanjin Heavy Industries & Construction Co ltd, Sumitomo Corp, Leighton Contractors, Sycip Salazar Hernandez & Gatmaitan, FSG Capital Inc, EFC Enterprises, FF Cruz & Co Inc, Marubeni Corp, BPI Capital Corp, ING Bank, Jorgman Planning & Development Corp, RATP Development, Benchtel Overseas Corp, Comm Builders & Technical Philippines Corp, Lenvoisa Construction Inc, APT Global Inc, Makati Development Corp, Tranzen Group, SERCO Group, Cathay Energy Service Corp, and SYSTRA Group.
The project looks promising since DOTC says Line 1 is already running at capacity. The extension would not only meet the current passenger demand but also help capture the large population base that travel from Cavite, which is home to nearly 4 million people.
The estimated cost of the project is nearly P60 billion, half of which will be used to extend the LRT-1 track to 32.4 kilometers from 20.7 kilometers. The remaining half will go towards acquiring 39 new light rail vehicles.
The DOTC hired International Finance Corp and state-owned Development Bank of the Philippines as its transaction advisors for the project. – Rappler.com