Ayala and MPIC are two of the largest conglomerates in the Philippines with a combined market capitalization of over 300 billion pesos. They each have a solid track record and experience in developing large-scale infrastructure projects. These two companies have proven their respective capabilities in delivering public utilities such as water infrastructure services and toll road operations and management. The combination of their experiences in these sectors, plus their individual epertise and capabilities in other areas, power distribution and healthcare in the case of MPIC, and large scale mixed-use real estate projects in the case of Ayala, create a unique and powerful alliance that can bring immense value as the country seeks to improve its light rail transit system.
According to Ayala Corporation Chairman and Chief Executive Officer, Jaima Augusto Zobel de Ayala, "We are glad to be partnering with the Metro Pacific Investments group for this specific purpose. We each have unique strengths and capabilities that, when combined, create a unique value proposition in rail development. We hope to contribute meaninfully in helping raise the standards of our public utilities. This is vital to our nation's progress and competitiveness. Developing an efficient mass transit system is a huge endeavor which will better served by the synergies created by this partnership."
For his part, MPIC Chairman, Manuel V. Pangilinan said, "We are pleased to share a common ground with Ayala Corporation through the Light Rail Projects. This strategic alliance will create integrated solutions that will improve public transportation through our vision to transform the country's light rail transit system into a network very much like those in Hong Kong, Singapore, Kuala Lumpur and Osaka."
"The existing system is over capacity and under invested - the need to improve the existing rail systems now cannot be overemphasized. Out initiative to join hands in addressing these concerns, signifies our commitment to help Filipinos become more productive and to contribute to the country's overall infrastructure development and economic growth." Mr. Pangilinan said in closing.
This is not the first time Ayala and MPIC forged an alliance. Both companies also combined forces in the bid for the Angat water project in March 2010.
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