MANILA - Light Rail Manila Corp. (LRMC), a consortium composed of Ayala Corp. and Metro Pacific Investments Corp. (MPIC), has taken over the operations and maintenance of the Light Rail Transit-Line 1 (LRT-1).
In separate disclosures on Monday, both firms described LRT-1 as "severely deteriorated," noting that it is the oldest train line in Metro Manila "where maintenance has been a challenge over the past years."
"Out of the 100 Light Rail Vehicles (LRVs) committed to be delivered to LRMC upon take-over, only approximately 77 of the LRVs are in running condition. It will take time to fix the fleet and restore the system to optimal operating levels," LRMC said.
"LRMC is committed to improve the public’s riding experience over time and gradually bring the LRT 1 system to better operating levels. Particularly, LRMC will begin works starting with improvements in the facilities on all the stations for the safety and security of customers. Nine of the eleven substations are also in line for rehabilitation to help ensure more reliable train services," it added.
LRMC is the concessionaire for the operations, maintenance and extension of LRT-1. It will operate and maintain LRT-1 for 32 years.
After the extension, the system will run 32.4 kilometers from its current 20.7 kilometers from Muñoz, Quezon City to Bacoor, Cavite.
Aside from Ayala and MPIC, Macquarie Infrastructure Holdings (Philippines) Pte. Limited also has a 10 percent stake in LRMC.
The group bagged the P65 billion LRT-1 Cavite extension project after offering the highest premium bid of P9.35 billion.