MANILA - Alliance Global Group Inc said Monday its infrastructure arm could begin construction on a P3-billion monorail in the capital as early as this year, after it secured "original proponent status" from the government.
Infracorp Development Inc's 2-kilometer Skytrain will cut travel time between the Guadalupe MRT station to Fort Bonifacio to 5 minutes and at no cost to the government, Alliance Global told the stock exchange.
The monorail will take 2 years to build and could be opened as early as 2021 if construction starts before the end of the year, said Infracorp president Kevin Tan.
Under its proposal, Infracorp will have the sole right to operate the Skytrain. It will also transfer ownership to the government.
The project, which will connect the Makati and Taguig financial districts, will benefit 60,000 to 100,000 commuters daily. It will also contain provisions to connect with other transport facilities, Alliance Global said.