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Manila Bulletin devider Philippines devider National devider 'Todo na 'to!' No stopping NCR subway project as more funds expected for release next month

'Todo na 'to!' No stopping NCR subway project as more funds expected for release next month

Published Feb 28, 2024 03:02 am

The Philippine government is expected to get the third tranche of its loan from Japan for the continuous construction of the Metro Manila Subway Project (MMSP) next month, the Department of Transportation (DOtR) said as it expressed confidence that there will no delay in its target completion date.

DOTr Secretary Jaime J. Bautista said the Department of Finance (DOF), with the assistance from the National Economic and Development Authority (NEDA), is now negotiating with the Japanese government for the release of the almost P56 billion through the Japan International Cooperation Agency (JICA).

“The Department of Transportation (DOTr) is confident the Metro Manila Subway Project will get continued funding until its completion. With the support of JICA, we are implementing this project on time for completion in 2029,” said Bautista.

Currently, Bautista said discussions are ongoing about the review of draft documents pertaining to the loan deal.

He said they are holding on to the commitment made by Finance Secretary Ralph Recto to help the project get completed on time while right of way issues are being addressed by the DOTr.

"The Department of Finance is fully committed to securing the funding for this project. We aim to finalize the loan agreement for the 3rd tranche of financing by March 2024," Recto earlier said during the inspection of the project.

The MMSP includes constructing a depot and 33-kilometer railway line consisting of 17 stations that will connect Valenzuela City to Pasay City with a spur line to Terminal 3 of Ninoy Aquino International Airport (NAIA) in Paranaque City.

Once operational, the subway will reduce travel time from Valenzuela to NAIA from one hour and 30 minutes to just 35 minutes, servicing 519,000 passengers daily.

The subway project is expected to make the transportation in the National Capital Region fast and comfortable amid its continuous growing population.

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