Source: The Manila Times

STATE-RUN Light Rail Transit Authority (LRTA) said it has secured commitments from local banks to finance the extension of an existing mass rail system to the port area in Manila and to Antipolo City.

LRTA said it secured commitments from Philippine National Bank, Development Bank of the Philippines, and Land Bank of the Philippines for funding under a design, finance, build, transfer (DFBT) scheme of the Build-Operate-Transfer (BOT) law.

The Japan International Cooperation Agency (JICA) is undertaking a full-blown feasibility study including environmental impact assessment at no cost to LRTA.

The target completion of the study is on or before August this year.

Rafael S. Rodriguez, LRTA administrator had said the study is aimed at validating the study earlier done by Marubeni Inc.

Based on the Marubeni stu-dy, the cost of civil, electro-mechanical
works and 12 rolling stocks for the east and west extension of Light Rail Transit Line 2 (LRT 2) would cost P13.898 billion between 2012 and 2015.

The eastward extension of LRT 2 involves the construction of two additional stations from the existing Santolan station at Marcos Highway.

The stations will be called Emeral station in front of Robinson’s Place Metro East in Cainta, Rizal and Masinag station at the Masinag junction in Anti-polo City.

The east extension will cost about P8.35 billion for the civil and electro-mechanical works.

For the westward extension, LRT 2 will extend from the Recto sta-tion towards Delpan Street in front of Tutuban up to Divisoria Mall.

One additional station will be constructed in front of Divisoria Shopping Mall.

The LRT 2 or Megatren traverses five cities in Metro Manila, namely Pasig, Marikina, Quezon, San Juan and Manila along the major thoroughfares of Marcos Highway, Aurora Boulevard, Ramon Magsaysay Boulevard, Legarda Street and Recto Avenue.  BY DARWIN G. AMOJELAR SENIOR REPORTER