Megawide Corp. has acquired a 60 percent stake in the Philippine National Railways’ East-West Railway Project (EWRP), which would involve the construction, operation and maintenance of a 9.77-km railway from Quezon City to the City of Manila.
In a disclosure with the Philippine Stock Exchange (PSE), Megawide said it partnered with East-West Rail Transit Corp. and Alloy MTD for the East-West Railway Project (EWRP).
“A solution is needed for Metro Manila’s worsening traffic congestion and we believe efficient mass transportation is the answer. Engineering and construction are vital components in any infrastructure project; in fact, they are the basis of Megawide’s capability in infrastructure development. This will guide our participation and vision for EWRP,” Megawide President President Edgar Saavedra said.
The proposed railway will traverse Quezon Avenue to España Boulevard in Manila, the third most actively used passage in the metro. The East-West project will have 11 stations and interconnecting facilities with neighboring railway systems. Upon completion, it is expected to decongest traffic.
The EWRP consortium is now composed of Megawide, A Brown Company Inc., Netcore Development Ltd. and Venere Holdings Inc.
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