Trackway secures $350M financing

    621
    A depiction of two opposite digital trackway per direction.

    Trackway consortium has secured $350 million in funds to finance the construction and operation of three proposed Digital Trackway projects in the country.

    Francis Yuseco, Trackway consortium chief executive officer, said the consortium pledges to build and operationalize three digital trackways – Calamba to Batangas in Luzon, Iloilo to Capiz in Western Visayas and Davao City in Mindanao.

    The consortium has an assured funding amounting to $350 million arranged by the Consultant to the Office of the President Jose Alejandrino with US-based private equity company Davidson Single Family Private Equity, Yuseco said.

    The first $200 million of this amount will be signed by Davidson trustee Javier Diego Breitmann, he added.

    “I believe and am hopeful that our domestic financial markets will be more than willing to extend a cooperative hand to this great and challenging task of nation building,” Yuseco said.

    He estimates the three digital trackways to total about P30 billion – P10 billion each for the Calamba to Batangas and Davao projects and P15 billion for Panay.

    The feasibility study for the Calamba to Batangas project is halfway towards completion, while that of the Davao project is set to start this April.

    “We will deal with both Batangas and Davao (projects) with the local government units (LGUs) which are provided in RA 7718,” Yuseco said referring to the Build Operate Law.

    The digital trackway project in Panay is in the advance stage of approval and hopefully will be implemented soon.

    The consortium has signed a memorandum of understanding with the Department of Science and Technology to convert the 36-year-old decommissioned Panay Railways into a digital trackway.

    The feasibility study for the Panay project has long been submitted to the LGUs. The National Economic and Development Authority also endorsed the project to Panay Railways for approval in September 2019.

    “It will be better to optimize the said funding throughout Luzon, Visayas and Mindanao so the Trackway can help as many farmers, fisher folks, informal settlers, bus, jeepney and tricycle drivers, our informal economy traders and end consumers. I and our Trackway consortium will just help to improve the on-going busway along EDSA if they ask for our help,” Yuseco said.

    Meanwhile, the consortium is optimistic to secure the original proponent status for its unsolicited proposal on the EDSA Trackway project this year.

    Last July, the proposal was submitted to the Department of Transportation and the Office of the President. It is still under review.

    Under the proposal, the 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 and villages in Makati, San Juan, Mandaluyong, Quezon City, Parañaque, all the way to Alabang.

    An integrated cashless ticketing system for its main Trackway along EDSA and various shuttle services is also included in its build-operate-transfer proposal.

    Trackway consortium is composed of Philtrak 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. – Myla Iglesias