The transport department has tapped Universal LRT Corp. to build a $3.3-billion commercial project on North Avenue, Quezon City, and a light rail transit starting from the same place and reaching San Jose del Monte in Bulacan.
Universal LRT Corp., a consortium made up of EL International Holdings of Israeli businessman Eli Levin, the SM Group of Companies, and Megawold Corp. is expected to start building the project late this year or early next year for completion in 2012.
The 23-kilometer Metro Rail Transit Line 7 will include a 22-km access road starting from the North Luzon Expressway, and will cost $1.3 billion. Its commercial component will cost $2 billion.