The construction of the Metro Rail Transit Line 7 (MRT7) is set to go full swing as the Department of Transportation and Communications (DOTC) and its private partner breaks ground for the P69.3 billion public-private partnership transport project.
The ground breaking for rail project that involves the construction of a 22.8-kilometer line that will connect Quezon City to Bulacan is set for today (Wednesday).
President Benigno Aquino 3rd, DOTC Secretary Joseph Emilio Abaya, and SMC President and Chief Operating Officer Ramon Ang are expected to attend the event.
After waiting for seven years, SMC has finally been given the green light to proceed with the construction of the project.
SMC, which initially failed to present a performance undertaking from the Department of Finance (DOF) for the project that should have commenced in 2009, finally completed financial closure documents in February.
A performance undertaking is a guaranty issued by the government that an agency implementing a project will comply with its obligations.
In 2014, the DOF signed the performance undertaking for the MRT7 project after the National Economic and Development Authority (NEDA) Cabinet Committee endorsed it to President Aquino.
The MRT7 will have 14 stations that will cover the 22.8-kilometer stretch from San Jose Del Monte, Bulacan to North Avenue in Quezon City where it will meet with the MRT3 that follows EDSA and LRT1, which runs along Taft and Rizal (formerly Avenida) Avenues.
It is expected to ferry 448,000 to 850,000 passengers per day. The rail system is projected to be up and running by August 2019.
Diversified conglomerate SMC formed SMC Mass Rail Transit 7 Inc., a P10-billion unit to hold its controlling interests in the MRT7 project.
SMC is looking to be an infrastructure-driven business by 2020. The incorporation of the unit is to carry out SMC’s business developments involving transportation modes such as railways and railroads, terminals, highways, tollways, bridges, and waterworks among others.