DBP-supported LRT1 PPP Project wins Asia-Pacific Rail Deal
THE Manila Light Rail Transit 1 Maintenance PPP Project, jointly advised by the Development Bank of the Philippines (DBP), in partnership with the International Finance Corporation (IFC), was recently ceremony on March 9, 2017 held in Singapore.
DBP and IFC advised the Department of Transportation in the structuring, tendering, and eventual award of the PPP contract for this P65-billion project, which is still the largest awarded PPP project of the Philippine government to date. The contract requires the private partner to rehabilitate the existing LRT1 system to meet key performance standards; construct an 11.7-km extension of the line from Baclaran to Niog in Bacoor, Cavite with eight new stations; and operate and maintain the entire line for the duration of the upgrades or replacements as may be necessary to meet contractual performance standards.
For its part, the government will provide the right-of-way required for the construction of the extension; deliver new light-rail vehicles to service the system; and construct a satellite depot, the latter two to be obtained through
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