Friday, March 16, 2018

GOOD NEWS! P51.37-Billion Mula Japan Para Sa Metro Manila Subway Project Natanggap Na Ng Pilipinas!

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Philippine and Japanese officials has signed the ₱51.37-billion (104.53-billion Japanese Yen) loan agreement, meant to kickstart the construction of P355.6-billion Metro Manila subway project.

DOTr said that the subway will have 14 stations from Mindanao Avenue in Quezon City to Ninoy Aquino International Airport in Pasay City, including two additional stations connected to the Light Rail Transit (LRT)-1.

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Photo credits below: Department of Transportation - Philippines

The 25-kilometer underground railway, initially pegged at ₱227 billion, is expected to benefit 370,000 passengers a day. The Department of Transportation (DOTr) reported a five-kilometer extension was also planned.

The Philippines was represented by Finance Secretary Carlos Dominguez, Budget Secretary Benjamin Diokno, and Transportation Undersecretary for Railways TJ Batan.

Japan International Cooperation Agency Chief Representative Yoshio Wada, outgoing Chief Representative Susumo Ito, and Japan Embassy representative Noboru Kageyama signed for Japan.

Groundbreaking for the subway is set for the end of 2018. Target completion is by 2025, but Transport Secretary Arthur Tugade previously told The Source that he hopes to have three stations operational in the next two years.

The subway is part of President Rodrigo Duterte's "Build, Build, Build" program. The infrastructure plan is one of the administration's efforts against notorious traffic in the Philippines, which has been reported to cost the country ₱3.5 billion a day.

The load is expected to be repaid within 40 years with a 12-year grace period.

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