THE proposed Metro Cebu Monorail line from Mandaue City to the South Road Properties targeted for completion by 2021 may extend further north to Consolacion town, helping to ease traffic in that area too.
“The feasibility study should have been done by now. But we needed to expand the coverage to the heart of Consolacion following an adjustment in the alignment,” said Cerwin Eviota, spokesman of project proponent Philtram Transportation Consortium Inc.
After the feasibility study is completed this month, Philtram will submit its unsolicited proposal to the Department of Transportation (DOTr), he said.
Philtram presented the project for critique to the Regional Development Council 7 Infrastructure Development Committee last Feb. 27 at Hotel Elizabeth Cebu.
“Should the consortium get the Original Proponent Status after submission of the unsolicited proposal, detailed engineering and design will follow, which will take six to nine months. Thus, the project can start by yearend or the first quarter of 2019. Since civil works and installation of signaling system and the test runs for the rolling stocks will take just two years, Cebuanos should start to enjoy this mass transport system by the start of 2021,” Eviota said.
Philtram initially proposed an 18-kilometer Metro Cebu Monorail line from Mandaue City to the South Road Properties (SRP) in Cebu City with 14 stations.
“The ride may cost passengers just P11 as boarding flat rate, plus P1 for every succeeding kilometer, with a possible P10 plus P1 per kilometer rate for students, senior citizens and persons with disabilities,” said Philtram founder and chief operating officer Jose Guardo Jr.
“Thus, from SRP to Consolacion, the fare will be only P27 per ride. It will be only P11 if one rides from Cebu Institute of Technology-University to Mango Fuente,” he said.
Guardo said there may be a higher rate for premium rides for commuters who would get a different platform with amenities. Packages for “unlimited” rides could also be offered.
Private sources
The proponents said funders were ready to finance the planned monorail for $1 billion (roughly P50 billion), to include land acquisition and right of way.
“The project will be fully funded by private sources, and pursued through the Public-Private Partnership scheme called BGTOM (Build-Gradual Transfer-Operate-Maintain),” said Guardo. “The funds will be channeled to a government financial institution, likely the Development Bank of the Philippines, that will formally syndicate the funds.” Philtram will establish an expanded holding company with 40 percent foreign equity and 60 percent Filipino equity that will pursue all its monorail projects in the Philippines. Philtram would hold 10 to 20 percent of this holding firm.
“It will be this holding company that will forge consortium agreements with partners who will comprise the special-purpose company (SPC) for Metro Cebu Monorail,” said Guardo.
Philtram, the founding firm, through the holding firm and the consortium partners in the Metro Cebu SPC, would be the one to submit the unsolicited proposal to the DOTr, he said.