MANILA -- The Department of Transportation (DOTr) has lead the groundbreaking Wednesday of the Taguig Integrated Terminal Exchange (ITX) Project which is expected to ease traffic congestion in Epifanio delos Santos Avenue (EDSA).
The Taguig ITX will cater to all provincial buses coming from the southern part of Luzon, Visayas and Mindanao.
The terminal project which was done in partnership with Ayala Corporation will be a six storey building located on a 5.57 hectare property inside the FTI compound which would house a passenger concourse, centralized ticketing area and several business and retail establishments.
Taguig ITX is projected to accommodate 4,000 buses and 160,000 passengers per day. It will likewise feature a pedestrian walkway connecting to the PNR FTI station and the proposed Mega Manila subway system.
DOTr expects the government to save at least PHP 9 billion in the construction of the terminal as its private partner Ayala Land Inc. (ALI) agreed to waive the Annual Grantor Payment (AGP) estimated to cost PHP277 million 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 PHP277 million for the next 35 years, DOTr Sec. Arthur Tugade said in his address during the groundbreaking ceremony.
Two things will be done - the PHP277 million per year for the next 35 years will no longer be paid, saving the government, this country no less than PHP 9 billion. ALI will share 2 percent of their income from the commercial spaces in favor of the government from the start of its commercial operation until the end of the concession agreement, he added.
The construction of the Taguig ITX would start by the second half of this year and is expected to start its operations by second half of 2020.
The transportation secretary was joined in the groundbreaking ceremony by other members of the BUILDBUILDBUILD Team including Department of Public Works and Highways (DPWH) Secretary Mark Villar and Bases Conversion and Development Authority (BCDA) President and CEO Vince Dizon.
Other government officials who attended 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.
Source: Philippine News Agency