MPIC and Hartasuma Sdn Bhd Enter Strategic Partnership to Drive Innovation in Rail Services and Infrastructure Development
MPIC Chairman, President, and CEO Manuel V. Pangilinan (right), signs a memorandum of agreement
with Hartasuma’s Group Executive Director, Tan Sri Ravindran Menon (left).
PASIG, Philippines, 4th September 2023 – 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.
About Metro Pacific Investments Corporation (“MPIC”)
MPIC is a leading Philippine company with investments in power, toll roads, water, transportation, healthcare and real estate. The Company seeks to create long-term value for all its stakeholders through responsible and sustainable investments that contribute to national progress and improve the quality of life in the communities it serves.
MPIC and its group of companies are making a difference in the lives of millions of Filipinos, powering commerce and households, connecting people and places, delivering clean and safe water, and making world-class healthcare available to all.
About Metro Pacific Light Rail Corporation (“MPLRC”)
LRMC is a joint venture company of Metro Pacific Investments Corporation and Sumitomo Corporation’s Metro Pacific Light Rail Corporation (MPLRC), Ayala Corporation’s AC Infrastructure Holdings Corporation (AC Infra), and the Philippine Investment Alliance for Infrastructure’s Macquarie Infrastructure Holdings (Philippines) PTE Ltd. (MIHPL). It assumed operations and maintenance of LRT-1 in September 2015 through a PHP 65-billion 32-year concession agreement with the Department of Transportation and the Light Rail Transit Authority (LRTA).
Hartasuma is a leading local integrated rolling stock and rail services company. Its core competencies lie in innovative engineering, refurbishment, overhaul, operations and maintenance, assembly, and supply of rolling stock.
It was the first Malaysian rail company to deliver fully locally assembled passenger coaches to Keretapi Tanah Melayu Bhd. To date, it has delivered more than 500 LRT cars and passenger coaches to cater for the transportation needs of the nation’s rail industry. The company is currently supplying 27 new LRT trains to Prasarana Malaysia which will service the Kelana Jaya Light Rail Transit.
For further information please contact :
Jacqueline S. Gorospe Melody del Rosario
Head, Corporate Communications & Vice President, PR & Corp. Comms (MPIC)
Customer Relations (LRMC)
Cel No. 0999 228 6272 Cel. No. 0918 9635639
Manager, Business Development (Hartasuma)
Cel No. +603 3101 2717
9th Floor, Tower 1
Rockwell Business Center
Brgy. Ugong, Pasig City 1604
© 2019 Metro Pacific Investments Corporation