Ayala, Metro Pacific Team Up For Manila Light Rail Bids

Law360, New York (April 24, 2012, 2:49 PM EDT) -- Two of the Philippines' largest companies, Ayala Corp. and Metro Pacific Investments Corp., have joined forces to build new light rail projects and related real estate ventures in traffic-congested Manila, the companies announced Tuesday.

Per a strategic partnership agreement, each of the corporations will take a 50 percent stake in developing electric rail projects in the country's capital. Their initial target is bidding on the proposed expansion of a Metro Rail Transit Corp.-owned light rail line, "although we will be looking into other rail projects together...
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