The Department of Transportation on Wednesday signed a memorandum of agreement with the Pasay City government for the construction of an integrated monorail project proposed by SM Prime Holdings Inc.
The 1.89-kilometer monorail system between the intersection of EDSA and Taft Ave. and EDSA-J.W. Diokno Boulevard will make the passenger transfer among Light Rail Transit Line-1, Metro Rail Transit Line-3, EDSA Busway and EDSA Greenways easier and more convenient.
“With the partnership between DOTR, Pasay LGU at SM Prime Holdings, we can assure that this project will bring convenience to all of us,” Transportation Secretary Arthur Tugade said during the signing ceremony.
Tugade said the project would also generate more jobs and address the traffic congestion in the area. “This project will be interoperable with LRT-1, MRT-3, EDSA Busway and EDSA Greenways,” he said.
SM Prime on June 4, 2020 submitted an unsolicited proposal to establish the EDSA-Taft Ave. to J.W. Diokno Boulevard Transit Project, a 1.89-km. monorail system that aims to provide seamless connectivity, resulting in reduced travel time and congestion within the area.
SM Prime proposed to implement the project under a joint venture arrangement with Pasay City and agreed to undertake and fully finance the project, including the cost of all the necessary permits and clearances from government agencies and the expenses to comply with government and legal requirements.
Under the agreement, the proponents will ensure that the monorail component will be subject to DOTR’s standards, specifications and requirements. The agency will also have regulatory supervision and oversight over the design, construction, operation and maintenance of the project.
It will be built at no financial cost, direct guarantee, subsidy or equity from the national government.
The DOTR will also have a share in gross fare revenues of the project while Pasay City will transfer ownership over all components to the national government after 50 years.
The monorail system will integrate with the proposed EDSA-Taft Flyover until the left turning ramp of the flyover to Macapagal Boulevard.
Tugade, who signed the agreement with Pasay City Mayor Emi Calixto-Rubiano, said the monorail system would provide passengers a faster access to Bay Area, the central business district of Pasay City.
“We will reduce traffic congestion. There will be fewer vehicles on the road, less carbon footprint and better surroundings in Pasay City,” said Tugade.