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Japanese group bags P11-billion subway contract from PH

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Finally, theP11-billion Metro Manila Subway project of the government has been assigned to a Japanese consortium. OC Global, the winning bidder is composed of six Japanese firms Oriental Consultants Global Co. Ltd; Tokyo Metro Co. Ltd.; Katahira and Engineers International; Pacific Consultants Co. Ltd.; Tonichi Engineering Consultants Inc.; and Metro Development Co.  Ltd..

This ambitious flagship infrastructure projects that President Rodrigo Duterte promised to do during his campaign is the country’s first subway under “Build, Build, Build” program, which is widely expected to decongest traffic especially in Metro Manila.

According to Budget Secretary Benjamin Diokno, the Philippines and Japan officially signed a 104.53-billion yen (about $935 million) loan agreement, representing the first tranche of Tokyo’s commitment to the subway project, in March.

However, the Budget Chief did not provide any other details on the said project. But this loan is expected to repay over 40 years with a 12-year grace period, carries interest rates of 0.10 and 0.01 percent per year, respectively, for non-consulting and consulting services.

Meanwhile, the Department of Transportation targets to have the project break ground on December 19. And by 2022 or before the term of President Duterte ends, partial operations are expected to start with the opening of a training center, depot and three stations ready: Quirino Highway, Tandang Sora and North Avenue. But the target completion of the entire subway project would be by 2025 and the subway will have 14 stations, which will start running from Mindanao Avenue in Quezon City to Ninoy Aquino International Airport in Pasay City.

This project is funded with a loan from the Japan International Cooperation Agency (JICA) costs P356.96 billion. Both JICA and the Philippine government signed in March a ¥104.53-billion loan agreement for the construction of the first phase of the subway project.

 

 

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