• Philippine Resources

Travel restrictions put Makati subway on hold



The builder of the Makati City subway is unable to start the construction of the project due to travel restrictions.


“Pending on travel restrictions,” Antonio L. Tiu, president and chief executive officer of the Philippine Infradev Holdings, Inc., told BusinessWorld in a phone message last week, when asked about the schedule of the construction.


On Sept. 9, the Philippine Infradev announced that its subsidiary, Makati City Subway, Inc., had executed the $1.21-billion engineering, procurement and construction (EPC) contract with China Construction Second Engineering Bureau Co. Ltd.

The Makati City Subway, Inc. is the corporate vehicle formed to undertake the project.


The contract signing took place during the 2020 International Fair for Trade in Services, The Belt and Road and Overseas Projects held in Beijing, China, the company said in a statement.


It said the contract covers two components: civil works and mechanical, electrical and plumbing or MEP works.


The $3.5-billion Makati City Subway Project is being undertaken as a public-private partnership between Philippine Infradev and the City Government of Makati.


“The terms of the EPC contract are made taking into consideration the provisions of the Joint Venture Agreement dated 30 July 2019 between the company (and the consortium it represents) and Makati City,” the company said.


The subway will have 10 stations traversing 10 kilometers of Makati City’s central business district, which the proponent hopes will help decongest road traffic by carrying about 700,000 passengers daily.


Philippine Infradev had tapped several Chinese firms for the subway project.


Source: https://www.bworldonline.com/travel-restrictions-put-makati-subway-on-hold/

PHILIPPINE RESOURCES JOURNAL ​

2nd Floor, Suite 6,

Corinthian Plaza Building,

Paseo De Roxas, Legaspi Village,

Makati, Philippines

Phone: +632 251 5599

Subscribe to Our Newsletter

  • White Facebook Icon

© Philippine Resources Journal