Property behemoth Ayala Land Inc. on Tuesday won a bid to build and operate the P4-billion Integrated Transport System Project–South Terminal under the public-private partnership (PPP) scheme.
The company will be awarded by the Department of Transportation and Communications with a 35-year concession agreement to build and operate the ITS South project.
The project will connect passengers coming from Laguna and Batangas to other transport systems including the future North-South Commuter Railway project, city bus, and public utility vehicles serving inner Metro Manila.
It will include passenger terminal buildings, arrival and departure bays, public information systems, ticketing and baggage handling facilities, and park-ride facilities.
An estimated 4,000 buses and 160,000 passengers, or more, will feed into ITS South from South Luzon Expressway (SLEX) daily.
ALI notified the local bourse it will likewise have the right to develop and operate commercial leasing facilities on the 5.57-hectare former site of Food Terminal Inc. property on which the future transport terminal will occupy.
The site of the ITS South Project is right next to ARCA South, where ALI is also developing an integrated mixed-use estate.
ALI said project construction will begin by May next year with completion and ready for operation by October 2017. (PNA)