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San Miguel secures P100-B loan for MRT7 project

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Conglomerate San Miguel Corporation, through its infrastructure arm, has secured a P100-billion syndicated loan agreement with a consortium of major Philippine financial institutions to further bankroll the ongoing Metro Rail Transit 7 (MRT7) project.

The consortium is composed of BDO Unibank, Philippine National Bank , Bank of Commerce , Security Bank, and the Government Service Insurance System .

"MRT7 will generate countless jobs, boost local economies, and create more opportunities for so many Filipinos. We are grateful to our lenders as this facility will allow us to remain on track to meeting our target to start operations in 2025, bringing us closer to a future where Filipinos can reap the benefits of enhanced mobility and accessibility," said SMC president and CEO Ramon Ang.

The MRT7 project will have 14 stations, namely: Quezon North Avenue Joint Station; Quezon Memorial Circle; University Avenue; Tandang Sora; Don Antonio; Batasan; Manggahan; Dona Carmen; Regalado; Mindanao Avenue; Quirino; Sacred Heart; Tala; and San Jose del Monte.

 

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