Construction of the Metro Manila subway project is set to begin in the third quarter of 2018, Budget Secretary Benjamin Diokno said Wednesday.
“The DOTr is expected to commence the project implementation of the Metro Manila subway project Phase 1 as early as third quarter of 2018," Diokno told reporters during a forum in Manila City.
“Right now they’re finalizing the feasibility study. The way we will do this is through design-and-build as these are among the few projects which will be not completed under Duterte’s term because it takes about several years. But at least we can look forward to having a subway,” he said.
On the sidelines of the 31st Association of Southeast Asian Nations Summit and Related Summits last November, Foreign Affairs Secretary Alan Peter Cayetano and Japanese Ambassador to the Philippines Kojie Haneda exchanged notes for the Metro Manila subway project.
Estimated to cost P355.6 billion or around ¥104.53 billion, the project will be funded by official development assistance (ODA) from Japan and public-private partnership (PPP) under the following loan terms:
The project covers a 25.3-kilometer subway connecting the National Capital Region north and south, from Mindanao Ave. in Quezon City to Ninoy Aquino International Airport in Pasay City, comprising 13 stations.
The project is expected to reduce commuting time from Quezon City to Taguig City to 31 minutes.
Diokno said the subway is expected to commence partial operations by the fourth quarter of 2025 with the completion date sometime in 2027. — VDS, GMA News
“The DOTr is expected to commence the project implementation of the Metro Manila subway project Phase 1 as early as third quarter of 2018," Diokno told reporters during a forum in Manila City.
“Right now they’re finalizing the feasibility study. The way we will do this is through design-and-build as these are among the few projects which will be not completed under Duterte’s term because it takes about several years. But at least we can look forward to having a subway,” he said.
On the sidelines of the 31st Association of Southeast Asian Nations Summit and Related Summits last November, Foreign Affairs Secretary Alan Peter Cayetano and Japanese Ambassador to the Philippines Kojie Haneda exchanged notes for the Metro Manila subway project.
Estimated to cost P355.6 billion or around ¥104.53 billion, the project will be funded by official development assistance (ODA) from Japan and public-private partnership (PPP) under the following loan terms:
- 0.1% a year interest rate on the loan and 0.01% a year on consulting services
- 28-year repayment term after a grace period of 12 years
- Procurement terms tied to Japan
The project is expected to reduce commuting time from Quezon City to Taguig City to 31 minutes.
Diokno said the subway is expected to commence partial operations by the fourth quarter of 2025 with the completion date sometime in 2027. — VDS, GMA News
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