ANDREW Tan-led conglomerate Alliance Global Group, Inc. (AGI) is diversifying into infrastructure and has submitted an unsolicited proposal for a monorail expected to reduce traffic congestion in Metro Manila.
In a disclosure, AGI said it had “created Infracorp Development, Incorporated, a new company that will handle infrastructure projects, particularly to participate in the government’s private-public partnership (PPP) projects.”
“INFRACORP has submitted this week an unsolicited proposal to the government to build a 2-km monorail project called Skytrain that will link Fort Bonifacio to the MRT Guadalupe Station, which hopes to benefit around 60,000 to 100,000 passengers daily,” AGI added.
The project can be completed in three years and travel time between Fort Bonifacio and the Guadalupe station will be cut to just five minutes, it said.
Stations will be built in Guadalupe and Uptown Bonifacio, which is a township development under AGI’s property unit Megaworld Corp.
The Skytrain, AGI said, could also be connected to the Metro Manila subway system that the government is planning to build.
“Given the country’s strong and stable economy, we see a huge opportunity to invest in infrastructure,” said AGI Executive Director Kevin Tan, who has been appointed president of INFRACORP.
“We are excited to participate and optimistic about the government’s aggressive push for infrastructure developments,” he added.
“Funding of the project will be internally-generated as part of AGI’s existing capital expenditure program. We cannot disclose the exact amount of the investment yet until the government gives us the go-signal to proceed. We will follow the rightful process of this exercise,” Tan said.