TRANSIT X LLC, an automated transit company based in Boston USA, signifies interest to build a privately owned high capacity solar-powered automated transit network (pod form) in Iligan City. The intention was from an unsolicited letter of proposal addressed to City Mayor Celso Regencia who then endorsed the said letter to Atty. Demosthenes “Demy” Plando, the Chair for Trade, Commerce, and Industries.
The unsolicited letter of proposal was subsequently solidified by the meeting between the two parties, the Iligan City Government attended by the Sangguniang Panlungsod Legislators and officials on one hand, and the authorized representatives of TRANSIT X LLC, the RYANYX CGS Corporation on the other. Consequently, a Memorandum of Understanding was drafted after determining that the proposed transit project bears astounding benefits redounding to the City. The transit project is anticipated to increase revenue by 5% of the project’s income, employment opportunities for the local, pollution and transport solutions with zero cost for Iligan City Government as much as the project is 100% privately funded. Other specific advantages arising therefrom include: the reduction of traffic congestion and pollution it being a solar-powered transit; minimizing the traffic-related accidents, as the stations and transit systems are carefully identified after a thorough evaluation by responsible professionals; and significantly increasing tourist potentials.
Through the initiative of Atty. Demy Plando, the draft form of the Memorandum of Understanding and the draft form of Transit X Operating Agreement which resulted from the caucus of the parties involved were already submitted to the Office of the Legal Council through the City Legal Officer Atty. Voltaire Rovira for a legal opinion before any further legal processes.
Check out the link for more information about the Transit X: http://www.transitx.com/