The Philippine Government may scrap the planned buy-out of Metro Rail Transit Line 3 (MRT 3) after the Department of Transportation and Communications (DOTC) received an offer from the Metro Pacific Investment Corporation (MPIC) to expand the capacity of the system.
The MPIC noted that it would invest between $300m and $700m to purchase additional trains,install signalling systems, build more platforms and refurbish tracks.
MRT 3 was built under a build-operate-transfer agreement that will be paid in 25 years.
The 16.9km line runs through EDSA from Taft Avenue in the south to the EDSA-North Avenue intersection, covering 13 stations.
The government intends the buyout to expand the capacity of the system, though the Metro Rail Transit Corporation (MRTC) has the right of first refusal for the buyout under the lease contract.
The MPIC has also entered into a cooperation agreement with Fil-Estate relating to the latter's rights and interests in the MRTC, Metro Rail Transit Holdings, Metro Rail Transit II and Monumento Rail Transit Corporation.
