Here are 14 awful facts about the MRT that every commuter should know

MRT … sino ang mas nakinabang at nakikinabang?

like a rolling stone

Train overshoots station in the this photo from PhilStar.com

 

  1. The MRT was a BLT project where private investors will build the system while government will operate it. As a BLT project, government will pay the private investors equity rental for 25 years, after which government will supposedly own the train system. When the project started with the MRTC, the investors included Fil-Estate group of the Sobrepena’s, Ayala Land, Anglo Phil Holdings, Ramcar Inc, Greenfield Development Corp, Antel Land Holdings and DBH Inc
  2. The private investors from the Metro Rail Transit Corporation only invested $190 million from 1995 to -1997. The rest of the project was financed through $488 million in loans that the government of the Philippines fully paid by 2010. It was the Philippine government who was actually shouldering the majority of the cost of the project.
  3. Despite their relatively small investment, the private investors were guaranteed a…

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