TOKYO, Nov 20, 2017 - (JCN Newswire) - Mitsubishi Corporation (MC) is being awarded the contract to supply new rolling stock for Manila Light Rail Transit (LRT) Line-1 by the Department of Transportation of the Republic of the Philippines. The contract amount of approximately 30 billion yen is being funded under a Japanese ODA Loan Agreement signed between the governments of Japan and the Philippines. MC will supply rolling stock manufactured by Construcciones y Auxiliar de Ferrocarriles, S.A. (CAF), Spain's largest rolling stock manufacturer, while equipment installed on the rolling stock will adopt Japanese technology and products. A total of 120 cars (or 30 train sets) will be supplied over a period from the end of 2020 to the beginning of 2022.
LRT Line-1 is a 20-kilometer elevated metro line connecting north and south Metro Manila, with a 12-kilometer extension further South to Cavite Province now under construction. Around these areas, there has been increasing passenger traffic due to the development of the city. The rolling stock to be supplied by MC will enhance the capacity of the LRT to accommodate increasing passenger numbers, and will contribute to reducing both traffic congestion and air pollution, which are particularly severe in Metro Manila.
CAF, which will manufacture the rolling stock for this project, is one of the largest rolling stock manufacturers in Europe. The company has established a credible supply record in other markets, including North, Central and South America and Asia and Oceania. MC and CAF have a longstanding relationship and have collaborated on a number of projects, including the supply of rolling stock for the Istanbul Metro in Turkey and the concession for the Canberra Light Rail Transit Project in Australia.
The need to address acute traffic congestion in metro Manila and spur economic activity in other regions has led to greater demand for improved infrastructure, with plans now afoot to extend existing transit lines and construct new ones. MC sees its involvement in railway infrastructure projects in the Philippines as an opportunity to contribute to economic growth and to improving quality of life in the country, while at the same time simultaneously generating economic value environmental value and societal value through our businesses.
Manila LRT Line-1 Rolling Stock (Illustration)
Manila LRT Line-1 Route Map
About Mitsubishi Corporation
Mitsubishi Corporation, headquartered in Tokyo, is a global integrated business enterprise that develops and operates business across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. Mitsubishi Corporation's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods. For more information on Mitsubishi Corporation, please visit the company's website at https://www.mitsubishicorp.com/jp/en/.
Telephone: +81 3 3210 2171
Facsimile: +81 3 5252 7705
Nov 20, 2017 11:04 HKT/SGT
Source: Mitsubishi Corporation
Mitsubishi Corporation (TSE: 8058)
Topic: Press release summary
From the Asia Corporate News Network
Copyright © 2018 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.