By Jenniffer B. Austria

First Philippine Infrastructure Inc., a unit of Metro Pacific Investments Corp., has signed an agreement with Philippine National Railways to explore investment opportunities in the railway business.

First Philippine Infrastructure said in a disclosure to the stock exchange that the two companies agreed to conduct jointly a pre-feasibility study on an alternative facility connecting the north and south Luzon expressways through an integrated rail and toll way project, using PNR?s right-of-way line that cuts across Metro Manila.

The company said it focused initial discussions on the development of an 18-kilometer rail and toll road project that will feature a level and elevated roadways over the existing PNR line.

?PNR?s visions is to pursue and develop business opportunities for related services towards the establishment and maintenance of a dependable, economical, safe and integrated transport system in the country,? PNR chairman Michael Defensor said in a statement.

Ramoncito Fernandez, president and chief executive of First Philippine Infrastructure, said the company would support PNR in its project and draw on its experience in managing and maintaining North Luzon Expressway.

Manuel Pangilinan, chairman of First Philippine Infrastructure and Metro Pacific, said the partnership with PNR was in line with the group?s thrust to focus on infrastructure projects.

?We look forward to an opportunity of providing PNR our commercial and technical experience for the improvement and efficiency of the country?s infrastructure system,? Pangilinan said.

?Paving the way for PNR?s infrastructure projects as part of the Metro Pacific?s thrust into infrastructure will help ease the congestion in the Greater Metro Manila transportation networks,? he added.

Pangilinan said Metro Pacific?s units would continue with its aggressive spending program this year.

Manila North Tollways Corp., a unit of Metro Pacific, plans to spend P2.1 billion for the expansion of North Luzon Expressway.

Maynilad Water Services Inc., the concessionaire that provides services to the western zone of Metro Manila, is allotting P8 billion in capital expenditure this year. Maynilad Water spent P6 billion in 2008.