MANILA, Philippines – The operator of the Light Rail Transit Line 1 (LRT-1) has entered into an agreement with international media company PHAR as part of efforts to generate non-fare revenues.
The partnership will be effective from 2016 until 2026.
Under the agreement, PHAR will assume responsibility of commercializing all non-fare box revenue across the entire LRT-1.
The deal covers all forms of advertising, major brand partnerships, Wi-Fi, fiber optics, retail led solutions, naming rights, data and applications, automated teller machines and other category partnerships.
“We are pleased to have appointed PHAR to be our ancillary revenue partner. Their approach ties into our vision, and their experience dealing with major transit operations in Asia and beyond, coupled with their willingness to invest in the improvement of the line, makes them the ideal long term partner for LRMC,” said LRMC president and chief executive officer Jesus Francisco.
For his part, PHAR managing director Prem Bhatia said the partnership would enable LRT-1 to become the preferred platform of brands and advertisers to promote their products.
“We are fully committed to making LRT-1 a best-in-class marketing environment and are confident in contributing substantially to the non-fare box revenue of LRMC,” he said.
LRMC is a joint venture company of Metro Pacific Light Rail Corp., AC Infrastructure Holdings Corp., and the Philippine Investment Alliance for Infrastructure’s Macquarie Infrastructure Holdings (Philippines) Pte Ltd.
The company was awarded the P65-billion LRT-1 Cavite Extension, Operation and Maintenance public-private partnership project.
On Sept.12, LRMC took over the operations and maintenance of the LRT-1 which spans Roosevelt station in Quezon City up to Baclaran station in Pasay City.
Aside from the LRT-1’s operations and maintenance, LRMC will also beresponsible for the construction of the railway’s extension all the way to Bacoor, Cavite.