The Department of Transportation (DOTr) has pitched the MRT-3 public-private partnership (PPP) project to Japanese investors, drawing interest from at least 26 companies as the government seeks private capital to modernize one of Metro Manila's busiest rail systems and accelerate railway development.

The DOTr said Thursday the companies participated in a market sounding activity conducted with the Asian Development Bank (ADB) in Tokyo for the MRT-3 Capacity Expansion, Operations, and Maintenance PPP project.

"The MRT-3 PPP is more than an investment opportunity, it is an invitation to potential investors to help reshape how millions of Filipinos can swiftly move every single day.

We are committed to building a railway system our people rightfully deserve, and we look forward to partnering with the private sector to help make this vision a reality," Transportation Secretary Giovanni Lopez said.

Lopez said modernizing MRT-3 is among the department's priorities to improve mobility for millions of commuters in Metro Manila while supporting economic activity.

Assistant Secretary for Railways Eduardo Danilo Macabulos said the railway network modernization has become more urgent as traffic congestion continues to weigh on the economy and commuters.

"The Philippines remains the most congested country in Asia," Macabulos said, adding that congestion "is not just an inconvenience but carries real economic costs and an even greater toll on the everyday lives of Filipinos."

Macabulos said the MRT-3 project is one of several railway PPP opportunities the government plans to offer as it expands private sector participation in the transport sector.

The DOTr also plans to launch similar PPP projects for the operations and maintenance of the 147-kilometer North-South Commuter Railway, the 33-kilometer Metro Manila Subway Project, Light Rail Transit Line 2, and the Philippine Automated Fare Collection System.