Japan is expected to fund the construction of Metro Manila’s first underground transit.
FIRST UNDERGROUND TRANSIT – Philippine President Rodrigo Roa Duterte is expected to sign a deal with Japan in November at the 31st ASEAN Summit and Related Meetings.
Based on a news report in Nikkei Asian Review, in Tokyo, the Philippines-Japan Committee on Infrastructure and Development and Economic Cooperation had a meeting and affirmed to unite on doing probable projects.
According to Socioeconomic Planning Secretary Ernesto Pernia, 14 projects were discussed during the bilateral discussion held and the central portion of the subway project in Metro Manila is included.
The estimated amount that is needed in the construction of the said project which will extend from Quezon City in northern Metro Manila to Taguig City in the east is P230-billion or $4.6 billion.
Aside from the Metro Manila subway project, the other prospected projects on the list are the high-speed train from Metro Manila to Clark International Airport and Clark Green City in Pampanga and commuter line running from Metro Manila to southern Luzon.
During the visit of the Japanese Prime Minister to the country, he announced the 1 trillion yen ($9 billion) financial package. It is where the fund for the projects will be taken.
According to the news report, in order for the deal to be signed by Pres. Duterte and Prime Minister Shinzo Abe at the 31st ASEAN Summit and Related Meetings in Pampanga, the feasibility studies must already be completed in the month of September.
According to the Socioeconomic Planning Secretary, “congestion and economies of agglomeration” already hit Metro Manila and the projects’ purpose is to “disperse the development away” from the area.
Based on the report, the Philippine President has vowed to decongest Metro Manila, the capital of the country, and to disperse the economic development in other areas and to raise the spending for the construction of infrastructures.