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SM Prime, DOTr, Pasay LGU sign deal for monorail project

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ABS-CBN News

<p>MANILA—SM Prime Holdings on Friday said it has submitted an unsolicited proposal to develop a monorail project in Pasay City in December last year. </p><p>The 1.89-kilometer EDSA-Taft Ave. to J.W. Diokno Boulevard Transit monorail system aims to provide &quot;seamless connectivity&quot; to decongest and reduce travel time in the area, the Sy-led group told the stock exchange. </p><p>&quot;SM Prime submitted an unsolicited proposal for the monorail project in Pasay,&quot; the company said.</p><p>Transport Secretary Arthur Tugade and Pasay City Mayor Imelda Calixto-Rubiano on Sept. 22 signed a Memorandum of Agreement for the integrated Pasay Monorail and EDSA-Tramo Flyover Extension Project, the DOTr said in a Facebook post.</p><p>&quot;Perfect for urban setting and congested locations, the monorail project is designed to ease vehicle traffic and result in a much comfortable, efficient, and safe movement of commuters,&quot; Tugade said.</p><div><script src="https://connect.facebook.net/en_US/sdk.js#xfbml=1&amp;version=v2.5" async="" type="text/javascript"></script></div><div class="fb-post" data-href="https://www.facebook.com/DOTrPH/photos/pcb.2120192771453181/2120192478119877/" data-width="auto"> </div><p>The Department of Transportation will have a share in gross fare revenues while Pasay City will transfer ownership over all components to the national government after 35 years, SM Prime Holdings said. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/08/02/21/sm-prime-books-p116-b-net-income-in-first-half-up-12-percent">SM Prime books P11.6-B net income in first half, up 12 percent</a></li></ul><div><strong>RELATED VIDEO: </strong></div><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/JAoZxGIe4lE?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>

SM Prime Holdings on Friday said it has submitted an unsolicited proposal to develop a monorail project in Pasay City in December last year. 