Ltd.[2][3] The privatization of the entire maintenance and operation of the Manila Light Rail Transit Line 1 was the first infrastructure project under the Public-Private Partnership (PPP) program of the Benigno Aquino III administration announced by the Department of Transportation in May 2011.

[12] Despite public opposition that the privatization may result in an increase in fares for the LRT Line 1,[13] on September 12, 2014, the Department of Transportation and Communications and the Light Rail Transit Authority awarded the project to the consortium.

[3][2][16] Under the ₱65 billion 32-year concession agreement with the Department of Transportation and Light Rail Transit Authority, the company is mandated to carry out the rehabilitation of Line 1 as well as to provide 120 new train coaches to the system.

[2][17][18] Light Rail Manila Corporation's parent companies Metro Pacific Investments Corporation and Ayala Corporation have earlier been awarded the tap-and-go fare payment system project for all three rail transit lines in Metro Manila, the Beep smart card rolled out in July 2015 through another joint venture in AF Payments Incorporated, as well as the automated fare collection system project which was rolled out in December 2015.

[20] On April 25, 2024, the Japan International Cooperation Agency (JICA) and Hankyu entered into an agreement with Sumitomo to collaborate on the operation and maintenance of the LRT Line 1.

[25] A part of Sumitomo's shares was acquired by the Japan International Cooperation Agency (JICA) and Hankyu in April 2024.