MANILA - Metro Pacific Investments Corp said Monday it offered P20 billion to the government to rehabilitate and operate the Metro Rail Transit Line 3 (MRT-3).

The conglomerate led by tycoon Manuel Pangilinan told the stock exchange that "discussions are still ongoing" for the possible participation of Ayala Corp in the project.

Metro Pacific and Ayala Corp operate line 1 of the Light Rail Transit through their joint venture, Light Rail Manila.

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Metro Pacific's original proposal to manage the train system that is used by roughly half a million people daily was worth P12.5 billion.

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