The Alliance Global Group, Incorporated, announced the estimated cost of their new Skytrain monorail project.
The construction of the two-kilometer initiative of Alliance Global unit Infracorp Development Incorporated would reportedly have the price tag of P3.6 billion.
According to the report by Philippine daily newspaper The Philippine Star, chief executive officer Kevin Tan also shared the time they could break ground.
He said that they are optimistic that this event is possible by this year’s second half.
Moreover, Tan relayed that they expect to complete the new Skytrain monorail project in two years.
He remarked that a component of their agenda is to secure a maintenance and operations collaborator.
The Alliance Global CEO cited that this partner would most possibly be one of the suppliers they would select for the initiative.
Tan mentioned that they anticipate the Investment Coordination Committee to give the green light for the building of the new Skytrain monorail initiative.
He said that they expect the approval of this unit of the National Economic and Development Authority at its upcoming conference.
The top executive of the Philippine holding firm affirmed that for the right of way, they had already completed the groundwork.
Furthermore, Tan shared that they had also finished the bidding process.
He acknowledged the fact that a Swiss challenge is a natural part of such business undertakings.
However, he remarked that they expect and hope that they would not encounter any challengers for their project.
Indian business newspaper The Hindu Business Line described the concept of a “Swiss challenge.”
This activity is a technique of bidding frequently employed in public initiatives.
In a Swiss challenge, an interested company for a project or a contract initiates a proposal for an bid.
Next, the government places the pieces of information regarding the initiative out for the public to know.
It also invites other interested firms to give their proposals.
Upon the receipt of these offers, the original contractor is then able to obtain the opportunity to match the most optimal bid.
In 2018, the Skytrain monorail project got the original proponent status from the Philippines’ Department of Transportation.
Alliance Global’s project will receive the upper hand once they and the government undertakes a Swiss challenge procedure.
Upon completion, the Skytrain initiative will employ automated cable-propelled monorail technology.
About 100,000 commuters can reportedly benefit daily from this mode of transportation. The Skytrain will diminish travel time to just five minutes.
It would pass through uptown Bonifacio going to MRT Guadalupe station. The monorail will also give zero costs to the government.
Furthermore, it would make provisions to interlink with other transportation centers that operate within the location where the train passes.
On Tuesday, March 3, 2020, Alliance Global Group, Incorporated (PSE: AGI) closed at P9.93 per share.
From its previous close, this last trade price of the firm’s stock is up by P0.01 or 0.10 percent. Furthermore, the total value turnover reached P131,450,393.00.
The Philippine Stock Exchange recorded the 52-week high of Alliance Global Group, Incorporated at P16.50.
Meanwhile, its 52-week low is at P9.87.
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