SOME 26 reputable Japanese firms, in a market sounding activity conducted by the Department of Transportation in partnership with the Asian Development Bank in Tokyo, Japan on 23 June, expressed interest in investing in the MRT-3 Capacity Expansion, Operations and Maintenance Public-Private Partnership project, underscoring the private sector’s confidence in the Philippine railway sector.
PHOTOGRAPH courtesy of DOTr
The Department of Transportation (DoTr) is pitching 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.
More than just an investment opportunity
“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,” said Transportation Secretary Giovanni Lopez.
“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,” he stressed.
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.
Becoming more urgent
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.”
One of several PPP opportunities
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.
