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P3.6-billion railway-project contract that will run from
Monumento in Caloocan City to North Avenue in Quezon
City was awarded to DMFB Joint Venture, a consortium
between DMCI Holdings Inc. and First-Balfour Inc.
In a
disclosure to the Philippine Stock Exchange, DMCI said
construction will be completed in 22 months, or sometime
in 2010.
The LRT
(Light Rail Transit) North extension project is a
5.2-kilometer elevated line from Monumento station of
LRT Line 1 to North Avenue of MRT 3, with two new
intermediate stations, at Balintawak and Roosevelt, and
a terminal station at Line 1 North Avenue station.
“The
project was given the green light to commence the design
and construction of Packages A1, A2 and B totaling P3.6
billion. This project was awarded to DMFB Joint
Venture,” DMCI said in a statement.
The
Balintawak station will provide modal interchange with
bus and jeepney services entering Metro Manila from the
north via the North Luzon Expressway.
Earlier,
Light Rail Transit Authority Administrator Melquiades
Robles said the project is state-funded. It is expected
to serve around 800,000 to 1 million passengers once
fully operational.
Meanwhile, the Securities and Exchange Commission has
approved the increase in DMCI Power Corp.’s authorized
capital stock to P1 billion from P80 million.
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