MANILA — Metro Pacific Investments Corporation (MPIC) on Wednesday confirmed news reports that it has partnered with Sumitomo Corp. in submitting an unsolicited proposal for the operation and maintenance of Metro Rail Transit 3.

"This will be subject to discussions with the Department of Transportation (DOTr)," the company told the Philippine Stock Exchange.

The DOTr in November said it may privatize the maintenance and operations of MRT-3 to make the railway more efficient.

“We are looking at partnering with private rail operators for MRT-3’s operations and maintenance — under the same scheme with LRT 1 — with the rail line’s assets remaining government-owned,” Transportation Secretary Jaime Bautista had said.

Light Rail Manila Corp, which is owned by MPIC, operates LRT-1.

• Transport dept mulls privatizing MRT-3 operations, maintenance

The DOTr also said it is thinking about bundling the operation and maintenance of MRT-3 with LRT-2.

• Transport dept eyes bundling MRT-3 operations, maintenance with LRT-2

Government's Build Lease Transfer Agreement with MRTC, the private consortium which built the MRT-3, is set to expire in 2025.

MPIC filed for voluntary delisting in August, after saying its share price has not been matching the value of the company, and that going private would be better for the firm.

• Metro Pacific formally files voluntary delisting with PSE

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