Categories: Featured

SM Consortium confident to win light rail single ticketing project

SM Consortium, led by SM Investments Corp. with members BDO Capital and Investment Corp., Advanced Card Systems Ltd. and Penta Capital Investment Corp., is confident of a favorable result in the ongoing financial evaluation of the MRT/LRT Automated Fare Collection System Project.

“With no cost to the government to build and modernize the ticketing system and a one-time concession fee of P1,088,000,000 to be paid to the government unconditionally, we believe that our proposal is most advantageous to the government and the riding public,” said Norman T. Pe, senior vice president of Penta Capital.

The Department of Transportation and Communication is now evaluating the proposals of the three bidders – AF Consortium led by BPI, SM Consortium and Comworks Berjaya Consortium – which passed the technical proposal stage.

“SM, the country’s largest retail chain, will be able to maximize the potential of this innovation through the wide retail acceptance and other applications,” added Denny Wong, chairman of Advanced Card Systems Ltd of Hongkong.

The winning bidder will be announced before Dec. 24 and notice to proceed is expected to be issued in the third week of January 2014.

Mommy Iris

I'm a lifestyle and mommy blogger from the Philippines. Pinay Ads was created to share bits and pieces of my life and my family. I have a wide array of interests that include entertainment, movies, music, gadgets, traveling, food, baking, and more. So, I hope you’ll stick around and enjoy reading!

Share
Published by
Mommy Iris

Recent Posts

Driving Sustainability: Choosing Eco-Friendly Cars

In recent years, the conversation around climate change and environmental sustainability has intensified, with the…

22 hours ago

Cemex Philippines Opens New Strategic Warehouse in Batangas

Cemex Philippines opened its newest warehouse to meet the increasing demand for high-quality construction materials.…

3 days ago

Lenten Dining Made Easy with foodpanda

This Lenten season, people often opt to look for healthier meals. Luckily, foodpanda has your…

4 days ago

Enstack Launches “HERstory”: A Celebration of Women in Leadership

Enstack, the AI-powered mobile app that enables everyone to be entrepreneurs, announced today the launch…

4 days ago

Abot kaya ang coolness with Home Credit’s hottest deals on appliances, gadgets this summer season

As the summer sun turns up the heat this dry season, Home Credit Philippines, one…

5 days ago

Cong TV, Kyline, and other top influencers level up their summer with Mang Inasal Extra Creamy Halo-Halo

Over 20 million views and 700,000 engagements in less than one month have been earned…

7 days ago