In 2017, the Department of Transportation (DOTr) granted Metro Pacific Investments Corporation the original proponent status (OPS).
This credential was for the operations, rehabilitation, and maintenance of the MRT-3.
The train system serves the North Avenue train station located in Quezon City.
Moreover, the coverage of the MRT-3 service is up to the Taft Avenue station situated in Pasay City.
However, Metro Pacific has announced that the government has already returned its proposal.
Jose Ma. Lim is the president and chief executive officer of Metro Pacific.
He confirmed this government action despite their status being the original project proponent.
The OPS would have given the company the prerogative to match a tender.
Another firm gave this offer through a Swiss challenge.
English-language digital and print Philippine daily newspaper Philippine Star reported the DOTr’s decision.
It has chosen to tap the services of two Japanese companies: Mitsubishi Heavy Industries and Sumitomo.
These firms came back as the MRT-3’s maintenance and restoration service providers.
The DOTr aims to restore and fix the train system that started to operate in 2000.
It would refurbish the MRT-3 into its high-grade and primordial design state.
The government expects to complete their project by the third quarter of next year.
This development would be made possible with the original service providers of the train system.
Metro Pacific was considering rethinking its unsolicited suggestion earlier.
This development comes following the comeback of the two Japanese companies for the rehabilitation of the MRT-3.
Nonetheless, last year, the chairman of the company Manuel V. Pangilinan relayed that they are willing to relinquish their OPS.
They would perform this measure after the new direction that the government has decided to take, he said.
If the MRT-3 project becomes unviable for their company, Pangilinan also remarked that giving up their OPS would be their recourse.
DOTr’s undersecretary for railways Timothy John Batan pointed out that they are still exploring alternatives for the maintenance and operations of the MRT-3.
They would make the critical decision once the present service providers of the train system finish their agreement.
On Friday, February 21, 2020, Metro Pacific Investments Corporation (PSE: MPI) closed at P3.19 per share.
This figure indicates zero changes in the last trade price of the company’s stock.
The total value reached P243,888,110.00.
The 52-week high of Metro Pacific Investments Corporation is at P5.28, according to the data that the Philippine Stock Exchange posted online.
Meanwhile, the 52-week low of Metro Pacific is at P2.69.
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