Infrastructure conglomerate Metro Pacific Investments Corp. renewed its interest in Metro Rail Transit Line 3.
MPIC chairman and president Manuel Pangilinan said the group submitted an unsolicited proposal to the Department of Transportation for the operation and maintenance of MRT 3 which runs along EDSA.
MPIC teamed up Japanese conglomerate Sumitomo Corp. for the unsolicited bid.
“We wanted to take a second look at it,” Pangilinan said when asked why MPIC again expressed interest in the mass transit system after two failed attempts.
MPIC in 2011 offered to buy out Land Bank of the Philippines and Development Bank of the Philippines in MRT 3 for $1.1 billion.
The DOTr in 2017 gave the consortium, which includes MPIC, Ayala Group and Macquarie Infrastructure Holdings (Philippines) Pte. Ltd. the original proponent status for the unsolicited proposal to operate and maintain the 17-kilometer line for P12.5 billion.
The consortium decided to withdraw its unsolicited proposal in 2020.
