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Manila Bulletin devider Business devider DOF to revisit Beijing-backed railway projects

DOF to revisit Beijing-backed railway projects

Published Jul 15, 2022 06:00 pm

The Department of Finance (DOF) would not throw in the towel yet on hope that Beijing could still fund the three big-ticket railway projects that were initiated by the Duterte administration.

Amid reports that the Chinese loan applications for the Bicol, Subic-Clark, and Mindanao railway projects have been withdrawn, Finance Secretary Benjamin E. Diokno said on Friday, July 15, that the Marcos administration will revisit the Beijing-backed infrastructure projects.

"If found worthwhile, it may choose to restore the loan application. If funding is still available," Diokno told reporters.

Meanwhile, Finance Undersecretary Mark Dennis Y.C. Joven said that Manila and Beijing would still discuss “how to move forward” with the three railway projects.

"I recommend bilateral discussions between the Philippines and China representatives to reach consensus," Joven said.

He also said there was no loan withdrawal for the Beijing-backed railways as these projects “have not been approved for funding by the Chinese.”

Loans for the Philippine National Railways (PNR) project from Banlic, Calamba to Daraga, Albay, as well as Clark Subic railway project are not yet approved, the DOF official said.

The Mindanao railway project, on the other hand, only awarded the project management consultant contract, Joven said.

“I think, government of the Philippines and Chinese government have to discuss how to move forward with the three projects,” Joven said.

On Friday, Transportation Undersecretary for Railways Cesar B. Chavez was quoted in media reports, saying the Chinese government has withdrawn funding support for the Bicol, Subic-Clark, and Mindanao railway projects.

The 380-kilometer Laguna-Albay PNR route project, the 71-kilometer freight Subic-Clark railway project and the 830 kilometer Mindanao railway projects are all under former President Duterte’s flagship program “Build, Build, Build.”

Last January, the Department of Transportation awarded the P142 billion rail contract to China Railway Group Ltd., China Railway No. 3 Engineering Group Co. Ltd., and China Railway Engineering Consulting Group Co. Ltd. for the Laguna-Albay PNR route.

Meanwhile, the P50-billion Subic-Clark Railway Project is part of North-South Commuter Railway or the PNR Luzon System Development Framework.

Lastly, the first phase of the Mindanao Railway was supposed to begin constructions by the first semester this year after its was delayed by the Covid-19 pandemic.

The Phase 1 of the Mindanao railways involves building a 100-kilometer train line connecting Tagum, Davao and Digos.

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Finance Undersecretary DOF Mark Dennis Y.C. Joven build build build Department of Finance
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