Proponent taps $200M loan for EDSA Trackway

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    The Trackway consortium is ready to finance its P9.5-billion unsolicited proposal for the EDSA Trackway project this year.

    A memorandum of agreement between Philtrack Inc., a consortium representative, and Davidson Single Family Private Trust Co. was recently signed for a $200-million loan.

    Francis Yuseco, Trackway consortium chief executive officer, said in a phone interview the company is now reviewing the bank contract and once signed, the loan will be released hopefully within the first half of the year.

    The fund will be used to jump start the construction of the EDSA Trackway that will make permanent the interim EDSA busway project of the government.

    With this, the Trackway consortium is urging the Office of the President and the Department of Transportation (DOTr) to award the original proponent status (OPS) soon.

    “We are waiting for them to qualify us as original proponent, but it’s not happening, that’s why we wrote to the President (Rodrigo Duterte) to sign an emergency executive order to dispense us with the so much regulations – all unsolicited proposal of major infrastructure projects,” Yuseco said.

    He added the project can provide thousands of new jobs in various industries and hopes this will be prioritized by the government.

    The consortium said it will also not require any form of fare subsidy or sovereign guarantee.

    Last July, the Trackway consortium submitted its unsolicited proposal to the DOTr but this is still up for review.

    Once the consortium secures the OPS, the proposal will have to be approved by the National Economic and Development Authority Board led President Duterte, after which this will be subjected to a Swiss challenge that allows another consortium to submit a better proposal.

    However, the challenging consortium needs to go to court first to have the Trackway consortium’s intellectual property rights legally rescinded. In any event, the Trackway will have the right to match the offer of the challenging consortium.

    Under the proposal, Trackway consortium will build 35 fully air-conditioned Sky stations for every 500 meters from Monumento to Mall of Asia in Pasay, equipped with escalators, elevators, waiting lounges, wireless fiber optics, clean and hygienic comfort rooms, convenient stores and coffee shops.

    The consortium will also deploy an initial fleet of 250 air-conditioned double decker buses with an average speed of 60 kilometers per hour, controlled and monitored from a command center.

    These double decker buses will have separate cubicles per passenger. All stations will be complemented with shuttle electric mini-buses to and from the various central business districts (CBDs) and villages in Makati, San Juan, Mandaluyong, Quezon City, Paranaque all the way to Alabang.

    An integrated cashless ticketing system for its main trackway along EDSA and various shuttle services are also included in the consortium’s build-operate-transfer proposal.
    The project is designed as a complement to the EDSA Metro Rail Transit.

    Once implemented, the Trackway consortium will be able to transport more than one million passengers a day to and from the various villages and CBDs in Metro Manila.

    Trackway consortium is composed of Philtrack Inc., bus operator DLTB, bus manufacturer Del Monte Motor Works, smart and cashless toll collection system firm Micrologics Systems Inc., FEMP Safety Engineers, Land Excel Consulting Co., AirSpeed International Freight Forwarders, BACS Engineering Services, and Leechiu Property Consultants.