The highly-anticipated MRT-7 is set to bring a significant boost to business in Bulacan, according to Art Tugade. The completion of the Metro Rail Transit Line 7, which aims to connect Metro Manila and Bulacan province by 2025, has been financially backed by San Miguel Corp. (SMC), led by billionaire Ramon Ang. SMC secured a P100-billion loan deal from a consortium of local banks and the Governance Services Insurance System. The banks involved in the syndicated loan agreement include BDO Unibank, Philippine National Bank, Bank of Commerce, and Security Bank. With a completion rate of almost 62 percent as of June 14, the MRT-7 is a game-changer that will reduce travel time from North Avenue, Quezon City to San Jose del Monte, Bulacan from two to three hours to just 35 minutes. The commuter rail line will feature 14 stations and is projected to accommodate 300,000 passengers in its first year of operation, increasing to 850,000 passengers per day in its 12th year. Additionally, the project will include an intermodal transportation hub and a 19-kilometer highway. SMC’s investments in infrastructure projects like the MRT-7 have a positive impact on the economy, trade, tourism, and social integration, according to banking executives Eduardo Francisco and Michelangelo Aguilar.
Denial of responsibility! SamacharCentrl is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
