MANILA, Philippines – Makati City signed a memorandum of understanding (MOU) Wednesday, December 12, with the company that will do the preparatory work for the ambitious $3.7-billion subway project.
Makati Mayor Abigail Binay led the city officials in the signing of the MOU with Philippine Infradev Holdings Inc, the former IRC Properties, at the Makati City Hall.
A ceremonial drilling of the Makati subway project in front of the old City Hall building kicked off the signing.
The country’s first subway project in the city described as the financial district of the metropolis is targeting a 2023 completion.
“I believe the Makati Subway will be a very valuable legacy, and I am fully committed to its timely completion and operation. It will make a lasting positive impact on the lives of our residents, and contribute significantly to the city’s sustainable development and economic growth,” Binay said.
Binay added, the Makati subway project is envisioned to generate 6, 000 jobs during its construction and when it start its operation.
The subway is a joint venture between Makati City and the consortium of local and foreign investors, with no cash out on the part of the city, said Michael Camiña, Makati City Legal officer and spokesman,
In return, the consortium will get a 30-year concession which includes includes maintenance and repair of the coaches and the control hub.
The pioneering subway system expect to carry over 27, 000 passengers per hour. It likewise targts an interval of 3 to 6 minutes between trains on the first year, with 12 operational trains.
The subway system will have two tracks, up to 10 underground stations, and air-conditioned coaches which can accommodate 200 persons per car. It spans 10 kilometers with a train yard, maintenance depot, and central command center at ground level.
The stations will have at least 30 station entrances linked to destinations across Makati.
It will also be connected to ferry transport, interchanges to the existing MRT 3 line, as well as potential links to the future Japan International Cooperation Agency (JICA)-funded Metro Manila subway, and to future parking structures and transport feeders outside the existing business districts.
Makati City eyes to have at total of 18 trains with two to four minute interval by 2024. It will be prepared to accommodate as many as 40,500 passengers per hour during peak hours and will run on an 18 hours a day.
Binay said neighboring cities of Makati are also expected to benefit from the subway project because it will help decongest traffic. – Rappler.com