Ayala Land bags P4B ITS-South terminal project

Ayala Land bags P4B ITS-South terminal project
Under the 35-year concession agreement, Ayala Land will operate and maintain a terminal for Manila-bound commuters coming from Laguna and Batangas

MANILA, Philippines –  Ayala Land Incorporated (ALI) has been awarded the P4-billion ($84-million) Integrated Transport System South Terminal project of the Department of Transportation and Communications (DOTC).

In August, the firm sought a P278-million ($5.89-million) annual grantor payment (AGP) – a fee the government will pay the winning concessionaire. ALI’s offer was lower than the amount sought by its rival, Filinvest Land, Incorporated.

“This is the second ITS Project that we have awarded. Our goal here is to give passengers coming from the south seamless transfers to other modes of transportation, as well as help decongest traffic in the metro,” Transportation Secretary Joseph Emilio Abaya said in a statement on Monday, November 16.

Under the 35-year concession agreement for the project, ALI will operate and maintain a terminal for Manila-bound commuters coming from Laguna and Batangas.

The firm will be responsible for the terminal’s design and construction, to be situated in a 5.57-hectare property along FTI Compound in Taguig City.

Construction is scheduled to begin in August 2016, with completion expected in January 2018.

The terminal is expected to be operational by February 2018. – Rappler.com 

$1 = P47.19

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