Wednesday, January 17, 2018

Government Saves PhP 9-B From Taguig ITX Project

Wazzup Pilipinas!

The Department of Transportation (DOTr) has managed to save the government PhP 9 billion in the construction of the Taguig Intergrated Terminal Exchange (ITX) project as the private partner, Ayala Land Inc. (ALI), agreed to waive the Annual Grantor Payment (AGP).

DOTr Secretary Arthur Tugade said he sat down with top honchos of ALI to forgo the PhP 277 million AGP, which is supposed to be paid on a yearly basis for 35 years.

"Let's find ways how we can stop the practice and paradigm of government paying the private sector royalty grounds as they operate terminals. Under the contract, the government should pay PhP 277 million for the next 35 years," Secretary Tugade said.

Further, Sec. Tugade said that the DOTr has engaged in a discussion with ALI since last year, where they were able to come up with a win-win solution that will ultimately benefit the Filipino people.

"Two things will be done -- the P277 million per year for the next 35 years will no longer be paid, saving the government, this country, no less than PhP 9 billion cashout annually... And two, from the start of its commercial operation, until the end of the concession agreement, ALI will share 2% of their income from the commercial spaces in favor of the government," Secretary Tugade said during the groundbreaking of the Taguig ITX, one of the big-ticket infrastructure projects of the Duterte Administration aimed at further decongesting vehicular traffic on EDSA.

During the ceremony, the transportation head was joined by other members of the BUILDBUILDBUILD Team including DPWH Secretary Mark Villar and BCDA President and CEO Vince Dizon.

Taguig ITX project, done in partnership with ALI., will be a 6-storey building on a 5.57 hectare property inside the FTI compound which would house passenger concourse, a centralized ticketing area and several business and retail establishments.

The project will also have a provision for 1,200 public utility buses and vehicles’ bays and parking. Upon its completion, Taguig ITX is expected to house around 4,000 buses and accommodate 160,000 passengers daily. It will also feature a pedestrian walkway connection to the PNR FTI station and the proposed subway system.

Taguig ITX will cater to all provincial buses plying the south of Luzon, Visayas and Mindandao destinations.

The Taguig ITX construction would start by the 2nd half of 2018 and is expected to start operation by 1st half of 2020.

Other high level government officials who attended this morning’s ITX groundbreaking rites at the former NFA warehouse, FTI, Taguig City, include Taguig City Mayor Lani. Cayetano, Cong. Federico Sandoval II (Malabon), Metropolitan Manila Development Authority Chairman Danilo Lim, Land Transportation Franchising and Regulatory Board Chairman Martin Delgra III, PNR Chairman Roberto Lastimoso and General Manager Junn Magno, NFA administrator Jason Aquino, and PPP Center Executive Director Boyet Pecson.

ALI chairman Fernando Zobel de Ayala , ALI vice chairman and director Jaime Augusto Zobel de Ayala also graced the ceremony.

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