Image Credit: DoTr Facebook.
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.
The 1.89-kilometer EDSA-Taft Ave. to J.W. Diokno Boulevard Transit monorail system aims to provide “seamless connectivity” to decongest and reduce travel time in the area, the Sy-led group told the stock exchange.
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.
“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,” Tugade said. 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.
Source: ABS-CBN News