SM Prime Holdings Inc. paid up state-run Light Rail Transit Authority (LRTA) for the “naming rights” of the common station that would connect the three mass rail transits in Metro Manila, government officials said.
Guiling Mamondiong, undersecretary of the Department of Transportation and Communications, said the country’s biggest mall owner and operator has already infused P200 million to partly finance the elevated station near the EDSA, North Avenue and West Avenue intersection.
Melquiades Robles, LRTA administrator, confirmed that the SM group has already remitted the said amount for the naming rights of the common station.
Based on the Metro Manila Integrated Rail Terminal plan, the construction of the connecting station for the existing MRT 3, the ongoing LRT 1 North Extension project and the proposed MRT 7 would cost about P777 million.
The LRTA aims to finish the common station on November 30 this year.
By next month, the LRT 1 North Extension’s Balintawak and Roosevelt stations would start to open its doors to commuters.
The P6.32-billion project involves the extension of LRT 1 to the North Avenue station of MRT 3 through the construction of the Balintawak and Roosevelt intermediate stations and the LRT 1 North Avenue terminal station. It is expected to serve about 800,000 to 1 million passengers once the project is completed.
The 20-kilometer MRT 7 is estimated to cost around $1.235 billion. It will run from San Jose del Monte station in Bulacan to SM City station in North Avenue.
This line will begin its route from Tala, Caloocan City, passing through La Mesa Dam reservoir, Fairview, Batasan, Diliman, Philcoa and end at EDSA-North Avenue.
It will serve an estimated two million commuters in the northern parts of Quezon and Caloocan cities.
Besides the elevated transport system, a 17-kilometer, six-lane asphalt access road in Marilao, Bulacan leading to Tala would also be built.