Sumitomo takes 19.2% stake in LRT1

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Japanese conglomerate Sumitomo Corp. has acquired a 19.2-percent stake in the company that holds the concession to operate, maintain and extend the 20.7-kilometer Light Railway Transit 1.

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The entry of Sumitomo, an experienced global rail investor, would provide further operational efficiencies and future development opportunities for LRMC while reducing risk exposure and funding obligations for the LRT1 extension to Cavite, MPIC president Jose Ma. Lim said during the annual stockholders’ meeting of MPIC on Friday.

“MPIC welcomes Sumitomo as a strategic stakeholder in the LRT1 project along with its current partners AC Infrastructure Holdings Corp. and Macquarie Investments Holdings Ltd.,” said MPIC chair Manuel V. Pangilinan.

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hoping that Sumitomo will have further power to run more projects on developments and improvements of the railway system. increase number of train wagons, organized and frequent trips just like in japan. one of the good news we see this week that bring hope to Filipinos.

glad its a Japanese firm and not the untrustworthy Chinese

Hay salamat.

If it is a Japanese Firm .... I have more trust in Japanese than Chinese when it come to business more honesty than Chinese

Does this allow them to freely purchase more trains as needed?

Ayala-MVP de escalating government partnership

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