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Manila, Philippines – Former Makati City Mayor Abby Binay-Campos has strongly refuted claims of a clandestine, last-minute agreement concerning the P8.96 billion settlement with Philippine Infradev Holdings Inc., the private contractor behind the stalled Makati Subway project. In a statement released on Monday, Binay-Campos dismissed the allegations as baseless, asserting that the settlement was a carefully considered and legally sound decision made during her administration.

The controversy stems from accusations suggesting the deal was rushed through shortly before her term ended, raising questions about transparency and potential irregularities. However, Binay-Campos insists that the settlement was the result of extensive negotiations and due diligence, aimed at minimizing losses for the city and protecting the interests of Makati residents.

“These allegations are completely false and malicious,” Binay-Campos stated. “The settlement was reached after thorough consultations with legal experts and city officials. We acted in good faith and with the sole intention of resolving the issues surrounding the subway project and preventing further financial setbacks for Makati City.”

The Makati Subway project, envisioned as a modern transportation system to ease traffic congestion and enhance connectivity within the city, has been plagued by delays and disputes. Philippine Infradev Holdings Inc. encountered financial difficulties, leading to the project's suspension. The settlement agreement aimed to formally terminate the contract and allow the city to pursue alternative solutions.

According to Binay-Campos, the settlement was a pragmatic approach to a complex situation. She explained that continuing the legal battle with the contractor would have resulted in significantly higher costs for the city, potentially exceeding the settlement amount.

“We explored all available options and concluded that the settlement was the most fiscally responsible course of action,” she emphasized. “Our priority was to safeguard the city’s financial resources and prevent further losses.”

The former mayor also pointed out that the settlement agreement underwent rigorous review by the city council and was duly approved, further demonstrating its legitimacy. She expressed confidence that a thorough investigation would clear her name and vindicate her administration’s actions.

The case continues to draw public attention, with various stakeholders calling for greater transparency and accountability in government contracts. Binay-Campos, however, remains steadfast in her defense, maintaining that the settlement was a necessary and justifiable decision made in the best interests of Makati City.

Future of the Makati Subway: With the settlement finalized, the city government of Makati is now exploring alternative options for addressing the city's transportation needs. Discussions are underway regarding potential partnerships with other developers and the possibility of re-evaluating the subway project’s scope and design.