In line with the government’s efforts in building infrastructures to provide solutions to the metro’s worsening traffic situation, the Department of Transporation (DOTr) has partnered with Ayala Land Inc. for the construction of the Taguig Integrated Terminal Exchange (ITX).
With its construction set to begin by the second half of this year, the ITX is expected to strat operations by early 2020.
The said project is intended to be a passageway for commuters from the south to other transport systems like the Philippine National Railways (PNR) and public utility vehicles (PUVs).
The ITX will also house passenger terminal buildings, ticketing and baggage handling facilities, and public information systems.
With its partnership with ALI, the government was able to save P9-billion as the private company agreed to waive the Annual Grantor Payment (AGP) which originally conferred the DOTr to pay P277-million to ALI for the next 35 years.
According to DOTr Secretary Arthur Tugade, through a series of talks with ALI which started since last year, the two parties agreed that “the P277-million per year for the next 35 years will no longer be paid, saving the government no less than P9-billion cashout annually. And from the start of its commercial operation, until the end of the concession agreement, Ayala Land will share 2% of their income from the commercial spaces in favor of the government.”