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Japan's Sumitomo joins Pangilinan-Ayala consortium for LRT-1

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<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="https://sa.kapamilya.com/absnews/abscbnnews/media/2020/business/05/29/20200212-lrt-love-train-gc-6487.jpg"/><figcaption>Commuters wearing face masks pass by the turnstile of the LRT Line 1 Baclaran station on Feb. 12, 2020. George Calvelo, ABS-CBN</figcaption></figure></div>MANILA -- Japan&#x27;s Sumitomo Corp is joining the Pangilinan-Ayala consortium that operates the Philippine capital&#x27;s oldest elevated rail, LRT-1, as a strategic stakeholder, one of the Filipino partners said Friday.Sumitomo acquired a 34.9-percent stake in Metro Pacific Investment Corp&#x27;s unit that has a stake in Light Rail Manila Corp, Pangilinan-led MPIC told the stock exchange.Light Rail Manila, a consortium of MPIC, Ayala Corp and Macquarie Investments Holdings, has a 32-year concession from Sept. 12, 2015 to maintain and operate the LRT-1. It ferries on average half a million riders daily.&quot;This investment by Sumitomo is a welcome illustration in their belief in the future of this project. We are all eager to resume operations of LRT-1 when the current extended quarantine is released,&quot; MPIC Chairman Manuel Pangilinan said.<ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/news/05/27/20/only-153-per-trip-mrt-ready-to-reopen-with-new-coronavirus-protocols">Only 153 per trip: MRT &#x27;ready&#x27; to reopen with new coronavirus protocols</a></li>	<li><a href="https://news.abs-cbn.com/business/05/06/20/mrt-lrt-pnr-on-reduced-capacity-post-lockdown-dotr">MRT, LRT, PNR on reduced capacity post-lockdown: DOTr</a></li></ul>Metro Manila will shift to a general community quarantine on Monday after nearly 80 days on lockdown. Under the GCQ, the LRT-1, LRT-2 and MRT-3 can resume with strict physical distancing measures.An extension project that will bring the LRT-1&#x27;s southern tip to Cavite from Baclaran is underway.Sumitomo is helping the Philippine government rehabilitate the capital&#x27;s busiest train line, the MRT-3.

Japan's Sumitomo Corp is joining the Pangilinan-Ayala consortium that operates the Philippine capital's oldest elevated rail, LRT-1, as a strategic stakeholder, one of the Filipino partners said Friday.

Japan's Sumitomo Corp is joining the Pangilinan-Ayala consortium that operates the Philippine capital's oldest elevated rail, LRT-1, as a strategic stakeholder, one of the Filipino partners said Friday.