Alliance Global to invest more for proposed Skytrain project

MANILA, Philippines — Alliance Global Group Inc. (AGI), the holding company of tycoon Andrew Tan, expects to spend more money for the development of its planned monorail project that will link Fort Bonifacio to the MRT Guadalupe Station.

In an interview, AGI chief executive officer Kevin Tan told The STAR that the investment for the company’s proposed Skytrain monorail project could go above the original cost.

“I’m sure there will be adjustments in the cost. I wouldn’t anymore peg it at the same cost. It will be different (higher),” he said.

Data from the Public-Private Partnership Center showed that the estimated cost of the project is at P3.91 billion.

AGI remains keen on pushing through with the Skytrain monorail project even after almost seven years since the unsolicited proposal was submitted to the government.

Tan said the proposal is currently being reviewed in conjunction with the Metro Manila subway.

“We’re still reviewing it in conjunction with the upcoming Manila subway because the Manila subway will also have several stations in BGC. So we’re studying the feasibility with the Department of Transportation (DOTr),” he said.

Infracorp Development Inc., AGI’s infrastructure arm, submitted in 2017 the unsolicited proposal to build the Skytrain monorail project.

In 2018, it secured the original proponent status from the DOTr, giving it the upper hand once a Swiss challenge process is undertaken.

In an interview in early March 2020, Tan said they were eyeing to break ground for the project in the second half of that year with the expected approval from the National Economic and Development Authority-Investment Coordination Committee.

The project was targeted to be completed in two years upon start of construction.

However, a state of public health emergency due to COVID-19 was declared in March of the same year, resulting in lockdowns and mobility restrictions.

Infracorp’s previous plan for its unsolicited proposal was to build a two-kilometer monorail that will reduce travel time from uptown Bonifacio to MRT Guadalupe to only five minutes, at no cost to the government.

The project will use automated cable-propelled monorail technology and is seen to benefit around 100,000 commuters daily.

Further, it will make provisions to interconnect with other transport hubs operating within the area where the monorail passes through.

Tan said AGI currently has no other plans in the infrastructure space aside from the Skytrain monorail project.