A consortium of Hyundai Rotem, Korea, and EEI, Philippines is building the $US1.54bn route, which will run north east from Quezon City to San Jose del Monte, with construction expected to start as early as February 18. It is due to be completed in August 2019.

The route will be the fourth elevated railway in the country and will have 14 stations with ridership predicted at 448,000 passengers per day.

On January 22 Hyundai Rotem was awarded a Won 530bn ($US 440.2m) contract to supply 108 metro cars for the route, as well as signalling, communications and power supplies.

Universal LRT won the contract in 2008 but securing financing has taken longer than expected. San Miguel acquired a 51% stake in the company in 2010 as part of a diversification strategy into new sectors including infrastructure and power.