The contract signing for the construction of the Integrated Transport System Southwest Terminal Project has been postponed, amid the titling issue for the 4.59-hectare project site in Paranaque City.
MWM Terminals, the consortium of Megawide Construction Corp. and WM Properties, was awarded the 35-year build-operate-transfer concession agreement earlier this year, after offering the lowest annual grantor payment of P100 million.
The concession agreement involves the design, financing and construction of the terminal, which will connect Cavite passengers to other public utility transport systems serving Metro Manila. This includes the future LRT Line 1 south extension.
MWM Terminals will also operate and maintain the facility for the duration of the agreement. Once completed, the terminal is expected to help ease traffic congestion within Metro Manila, facilitating the faster movement of commuters and trade.
MWM Terminals president Oliver Tan expressed the continued commitment of the consortium to the project and said the contract signing would eventually push through.