MRT 7 (north edsa-SJDM)

[timrev]

Marubeni-DMCI group bags $1B contract to build MRT-7

MANILA, Philippines (UPDATE) - A joint venture between Japan's Marubeni Corp. and DM Consunji Inc. (DMCI) bagged the construction contract for the $1 billion MRT-7 railway project of Universal LRT Corp.

In a disclosure to the stock exchange, DMCI Holdings said the Marubeni-DMCI consortium signed an engineering, procurement, construction contract for the Metro Rail Transit System (MRTS) and Intermodal Transportation Terminal of the MRT-7 Project with Universal LRT.

DMCI spokesman Elery Mendoza told Agence France-Presse the project would cost around $1 billion and start early next year.

"It will most probably take 42 months for the entire system to be completed," he added.

In Tokyo, Dow Jones Newswires quoted a Marubeni statement as saying it and DMCI received an order worth $1 billion to build railway tracks and stations in Manila.

The MRT-7 project involves the construction of a 22-kilometer train line with 14 stations from San Jose del Monte in Bulacan to the corner of North Avenue and Epifanio de los Santos Avenue (EDSA) in Quezon City. The project also includes a 22-kilometer, 6-lane highway to Bulacan.

The MRT-7 will be connected to the MRT-3 train line and the Light Rail Transit (LRT) line 1 through a common station in North Avenue.

Universal LRT is a railway firm controlled by diversifying conglomerate San Miguel Corp. In November 2010, SMC acquired a 51% equity interest in Universal LRT, which holds the concession for the MRT-7. It will have 25 years to operate the train line.

Manila's light rail systems currently serve about 1.3 million commuters daily

http://www.abs-cbnnews.com/business/...ct-build-mrt-7