The National Economic and Development Authority expects the common station that will connect three railway systems in Metro Manila to proceed without problem despite a temporary restraining order (TRO) still in place, such that it approved a higher cost for the project to make it more commuter-friendly.
Neda’s Investment Coordination Committee-Cabinet Committee (ICC CabCom) also approved on March 21 the change to official development assistance (ODA) of the financing for three projects: the Chico River Pump Irrigation Project, which was supposed to be funded by the government budget; the New Centennial Water Source-Kaliwa Dam Project, and the North-South Railway Project-South Line, both earlier approved for rollout by the public-private partnership (PPP) framework.
Socioeconomic Planning Secretary and Neda chief Ernesto M. Pernia told reporters that the government wanted to “play to our advantage” the offers of the Chinese and Japanese governments to extend ODA to Philippine infrastructure projects, which would have a longer repayment period of up to 30 years.
Neda Director Jonathan L. Uy said the cost of the south line of the North-South Railway Project, running from Metro Manila to Bicol, was adjusted to P260 billion from P170 billion, as right-of-way costs shot up to P54 billion.
China is interested in the long-haul line, while Japan wanted to fund the commuter line, Pernia said.
As for the common station, the new total project cost of P2.8 billion, up from P1.7 billion, was “inclusive of the P1.4 billion in the Department of Transportation’s 2017 budget,” Neda said in a statement.
“The project’s new physical configuration includes dual tracks for LRT-1, MRT-3, and MRT-7, and a total concourse area of 13,700 square meters. The project is targeted to be delivered by April 2019,” he said.