MANILA, Philippines – The lead implementing agency of the country’s first multi-billion subway project eyes to roll out its bidding terms in the first quarter of 2015.
“We are preparing for the next NEDA (National Economic and Development Authority) board meeting where we are hopeful that the project will be given the final green light for bidding,” Department of Transportation and Communications (DOTC) spokesperson Michael Arthur Sagcal told Rappler in a text message Tuesday, January 27.
DOTC leads the implementation of the 12-kilometer underground Makati-Pasay-Taguig Mass Transit System Loop project under the public-private partnership (PPP) scheme.
The subway system will link Makati Central Business District, the Mall of Asia in Pasay City, and Bonifacio Global City (BGC) in Taguig, according to the PPP Center.
Its financing, design, construction, operation, and maintenance cost P370 billion ($8.39 billion) – the most expensive PPP to date, surpassing the Laguna lakeshore expressway-dike project at P123 billion ($2.79 billion).