Government to buy out the private owner of the Edsa MRT

The Philippines government is planning to buy out Metro Global Holdings Corporation, the private owner of the Edsa Metro Rail Transit (MRT). The deal, valued at PhP 54 billion, is expected to save the government PhP 36 billion a year in payments to the private shareholders who constructed the railway system under a build–lease–transfer system two decades ago. Once the buyout is complete, the government will rebid the Edsa MRT.