Makati Subway can move 'faster than expected,' proponent says

Michelle Ong, ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2018/news/07/05/city.jpg"/><figcaption>Commuters wait for rides during rush hour in the Makati City financial district, <em>Jonathan Cellona, ABS-CBN News/File</em></figcaption></figure></div><p>MANILA -- The proposed Makati subway, which may be built with Chinese partners, will move &quot;faster than expected,&quot; its proponent said Thursday.</p><p>IRC Properties is working with the Makati City government first before expanding it to as many as 3 other cities, president and CEO Antonio Tiu said.</p><p>The company secured &quot;original proponent&quot; status for the project, meaning it has the right to match the bid of a challenger, should there be one, according to Public Private Partnership guidelines.</p><p>&quot;With regards to our Chinese partners, they re shareholders. They put up equity, I believe this project would fly faster than expected,&quot; Tiu told ANC&#x27;s Early Edition.</p><p>&quot;China and the Philippines have now moved into a golden era. There is influx of so much Chinese investment. We should embrace this opportunity. We should capitalize on this golden era and attract Chinese money to invest in infrastructure,&quot; he said.</p><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/nH7ghVsaZ2A?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div><p>Tiu is the second tycoon to submit an unsolicited proposal for a railway in the capital. Billionaire Andrew Tan&#x27;s Alliance Global proposed the construction of a monorail to connect Makati and Taguig cities.</p><p>The government also plans to construct a subway from Mindanao Avenue in Quezon City to the Ninoy Aquino International Airport in Pasay City under its P8-trillion &quot;Build, Build, Build&quot; program.</p><ul class="op-related-articles">	<li><a href="http://news.abs-cbn.com/focus/multimedia/infographic/04/07/18/mega-manila-subway-underway-with-build-build-build">Mega Manila Subway underway with &#x27;Build, Build, Build&#x27;</a></li></ul><ul class="op-related-articles">	<li><a href="http://news.abs-cbn.com/business/05/28/18/makati-taguig-skytrain-may-begin-construction-this-year-alliance-global">Makati-Taguig Skytrain may begin construction this year: Alliance Global</a></li></ul><p>IRC Allied earlier told the stock exchange that Greenland Holdings, Jiangsu Provincial Construction Group, Kwan On Holdings, MingTu Investment Holdings and China Harbour Engineering Construction &quot;signified their intention&quot; to join the consortium that would build the subway.</p>

<p>IRC Properties is working with the Makati City government first before expanding it to as many as 3 other cities, president and CEO Antonio Tiu said.</p>

IRC Properties is working with the Makati City government first before expanding it to as many as 3 other cities, president and CEO Antonio Tiu said.

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Makati Subway can move 'faster than expected,' proponent says

Makati Subway can move 'faster than expected,' proponent says

Michelle Ong,

ABS-CBN News

Published Jul 05, 2018 09:40 AM PHT

|

Updated Jul 03, 2019 12:43 PM PHT

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