Metro Pacific president Jose Ma. Metro Pacific chairman Manuel Pangilinan“This is a much better proposal because it means more money for the government,” Pangilinan said. Pangilinan said aside from Ayala Corp., Metro Pacific also invited Macquarie Infrastructure Holdings (Philippines) Pte Ltd. to join the company in the proposed rehabilitation of MRT3. Metro Pacific first submitted a proposal to the Transportation Department in 2011, offering $523-million investments to rehabilitate and upgrade MRT3. The Transportation Department decided to pursue the buyout, but Congress did not approve the P53.9-billion allocation in the 2015 budget for the government’s takeover of MRT3.

Source: The Standard August 16, 2017 13:18 UTC