Govt eyes foreign aid to buy MRT 3 trains

STATE-RUN Metro Rail Transit Authority (MRTA) is seeking foreign donor aid to fund the procurement of more trains for the Metro Rail Transit Line 3 (MRT 3) after the government backed out of negotiations for the early termination of the facility’s lease contract with a private consortium.

Roberto Lastimoso, MRTA general manager, said the government decided to procure additional trains for the line after months of negotiations with the Metro Rail Transit Corp. (MRTC) failed to bear fruit.

MRTC is a consortium led by the Sobrepeña family’s Filipino-Estate Management. Other investors are Ayala Land Inc., Anglo-Philippine Holdings Corp., Ramcar Inc. and Greenfield Development Corp. [Continue Reading...]

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