FridayOL

Makati City, Philippines – In a significant development for the long-delayed Makati Subway project, Vice President Leni Robredo announced that Makati City is poised to gain full ownership of the corporate entity responsible for its development and operation. This move comes as part of ongoing proceedings with the Singapore International Arbitration Centre (SIAC).

However, the announcement has been met with cautious optimism and some concern, particularly from Mayor Nancy Binay, who has raised questions about what she describes as a potential “midnight settlement” regarding the project’s future.

A Turning Point for the Makati Subway

The Makati Subway, envisioned as a modern and efficient transportation solution for the bustling city, has faced numerous setbacks and delays since its initial planning. The shift towards full city ownership signifies a potential turning point, allowing Makati to directly manage the project’s completion and future operations.

According to Vice President Robredo, the transfer of ownership is a key outcome of the arbitration proceedings with SIAC. The details of the agreement remain confidential, but it is understood that the arrangement aims to resolve outstanding disputes and pave the way for the subway’s resumption of construction.

Mayor Binay's Concerns: A 'Midnight Settlement'?

Despite the potential benefits of full city ownership, Mayor Nancy Binay has expressed reservations, alleging a possible “midnight settlement” in the deal. She has called for transparency and a thorough review of the terms of the agreement, suggesting that the city may not have been fully consulted in the negotiations.

“We need to ensure that the agreement is fair and beneficial to the people of Makati,” Mayor Binay stated. “We cannot allow a rushed settlement that compromises the city’s interests and the project’s long-term viability.”

What Does This Mean for the Future?

The implications of this development are far-reaching. With full ownership, Makati City will have greater control over the project’s timeline, budget, and technical specifications. This could potentially accelerate the completion of the subway and ensure that it aligns with the city’s transportation needs.

However, the concerns raised by Mayor Binay highlight the importance of transparency and accountability in the process. A thorough and public review of the agreement is crucial to build trust and ensure that the Makati Subway truly serves the best interests of the city and its residents.

The situation remains fluid, and further updates are expected as the arbitration proceedings continue. The city government is expected to release more details about the agreement in the coming days. The people of Makati are eagerly awaiting news that will finally bring their long-awaited subway to life.

Key Questions Remain:

• What are the specific terms of the agreement with SIAC?
• How will Makati City fund the completion of the subway?
• What measures will be taken to ensure transparency and accountability in the project’s management?

The Makati Subway project represents a significant investment in the city’s infrastructure and future. The coming weeks will be critical in determining whether this latest development will finally lead to the realization of this ambitious transportation vision.