PHILIPPINE Reclamation Authority (PRA) Chairman Alexander Lopez said there were plans to build a monorail connecting Taft Avenue and SM Mall of Asia (MOA) in Pasay City with the first phase covering 1.98 kilometers.
Lopez said Philippine conglomerate SM Group pledged a P7-billion investment for the project’s capital expenditures and an additional P2 billion for its operational expenses.
He said the public-private partnership was indicative of the government’s drive to meet the growing need for public transportation.
PRA Chairman Alexander Lopez Photo courtesy of PRA
Lopez said the monorail offers a cost-effective and sustainable means of transportation due to its fewer stations and absence of elevated skyways.
He added he was working to find ways to fund lines 2 and 3 of the project that will connect casinos, hotels, malls and hospitals in the reclamation area.
Lopez said the proposal to build a 260,000-square-meter international convention center would be submitted to the National Economic and Development Authority (NEDA) for approval this month.
“This will be the biggest convention center in Southeast Asia,” he added, noting it would be bigger than the combined area of the SM Mall of Asia, the Philippine International Convention Center and the World Trade Center, which only measures 30,000 square meters.
Upon NEDA’s approval, the plan will be presented to the Metro Manila Council (MMC).
“I already discussed the project with San Juan Mayor and MMC president Francis Zamora, who has expressed interest,” Lopez said.
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