MPIC and Hartasuma Sdn Bhd enter strategic Partnership to drive innovation in rail services and infrastructure development | BMPlus
Metro Pacific Investments Corporation (MPIC), the country’s leading infrastructure investments company, and Hartasuma Sdn Bhd, the forefront in integrated rolling stock and rail services provider in Malaysia, have announced a significant collaboration aimed at driving the development of rail infrastructure in the Philippines.
The agreement signed by Hartasuma’s Group Executive Director, Tan Sri Ravindran Menon, and MPIC’s Chairman, President, and CEO, Manuel V. Pangilinan, marks a notable step towards fostering economic growth through joint ventures and cooperation.
“We look forward to learning from the expertise of Hartasuma’s over 28 years in the rail engineering and transport industries, and to applying these lessons to our operations in the Philippines. There is a lot for us to share. Together, we intend to explore innovations that can help us build the transport infrastructure of the future,” said Pangilinan.
This strategic partnership will pave the way for diverse initiatives, including the development of rolling stock refurbishment projects in the Philippines and the exploration of cable car systems for tourism and urban transport.
These ventures will not only transform the transportation landscape of the country but will also create a thriving industry that will support economic progress by fostering skill development, creating numerous employment opportunities for Filipinos, and enhancing local manufacturing and supply chain capabilities.
MPIC, through its subsidiary Light Rail Manila Corporation (LRMC), which operates and maintains 20 stations and is expanding with the construction of 5 new stations for the Cavite Extension Project, seeks to fortify its position in the Philippine light railway system. With an active interest in future public-private partnership (PPP) opportunities in the light rail sector, MPIC aims to leverage Hartasuma’s expertise to enhance the local content and capabilities in train manufacturing, ultimately nurturing a self-sustaining industry ecosystem.
Ravindran Menon expressed his optimism about the collaboration, saying, “We are very honoured to partner an extremely reputable and established infrastructure player in MPIC. We look to value add our collaboration and assist MPIC in achieving its goals. The construction market in the Philippines is expected to grow by some 7% in 2023 following a growth of 12.1% in 2022. There is a lot of demand and interest in rail infrastructure projects as the government looks to improve regional connectivity through the development of transport infrastructure. We look forward to participating in some of this growth,” said Ravindran.