Andrew Tan forays into infrastructure development, pitches Guadalupe-Fort Bonifacio Skytrain
A new company formed by Bilyonaryo Andrew Tan has submitted an unsolicited proposal to the government to build a two-kilometer monorail project that will link Fort Bonifacio to the MRT Guadalupe station.
Alliance Global Group Inc. has incorporated INFRACORP Development Inc., which will serve as the corporate vehicle for its planned infrastructure projects.
The proposed Skytrain monorail, which will utilize the automated cable-propelled monorail technology, is expected to benefit around 60,000 to 100,000 passengers daily and cut travel time from Fort Bonifacio to MRT Guadalupe to only five minutes.
Under the proposal, a station will be built in Guadalupe, Makati near the MRT station and another in Uptown Bonifacio, a township development of AGI’s real estate arm Megaworld Corp. at no cost to the government.
“Given the country’s strong and stable economy, we see a huge opportunity to invest in infrastructure. We are excited to participate and optimistic about the government’s aggressive push for infrastructure developments,” said Kevin L. Tan, executive director of AGI and president of INFRACORP.
The project will take three years to construct and it could be interconnected with the subway system project passing through Fort Bonifacio that the government is set to build.
“Funding of the project will be internally-generated as part of AGI’s existing capex program. We cannot disclose the exact amount of the investment yet until the government gives us the go- signal to proceed. We will follow the rightful process of this exercise,” Tan said..
IApart from this, INFRACORP is also eyeing other possible infrastructure projects, particularly on transport solutions.