Japan agrees US$2.1 billion loan with the Philippines for Metro

By Catrin Jones28 February 2022

The Government of the Republic of the Philippines has reached an agreement with the Japan International Cooperation Agency (JICA) for a loan of up to JPY253.3 billion (US$2.1 billion) to support phase 1 of the Metro Manila Subway Project in the Philippines.

The signing ceremony (Photo: Embassy of Japan in the Philippines website)

The planned project will construct 15 stations stretching 27km underground to connect Valenzuela City, in the Northern part of Metro Manila, to Pasay City in the South.

The main contractor for the work will be a Japanese company, or its overseas subsidiary, or a joint venture with a Philippine partner.

The new Metro will help to meet the increasing need for transportation of the growing city and reduce traffic congestion in Manila.

The loan will be used to build stations, underground tunnels and other public works, in addition to the procurement of rail systems and consulting services.

This loan agreement follows Japan’s first tranche funding of JPY104.53 billion (US$900 million) that was signed in March 2018.

It is currently estimated that work should be completed by November 2027.

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, World Construction Week Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Longer Reads
Technological advances in skid steers
The latest advances in technology are giving greater benefits to skid steer operators
Mini excavators: new tech and alternative power
An increasingly common piece of equipment on construction sites, demand for mini excavators is growing across many worldwide markets
ConTech: Not a silver bullet, but a long-term partner
Matt Desmond of technology giant Hexagon’s Heavy Construction division, talks to Construction Europe about the benefits to contractors of adopting digital technology
CONNECT WITH THE TEAM
Andy Brown Editor, International Construction Tel: +44 (0) 1892 786 224 E-mail: andy.brown@khl.com
Simon Kelly Sales Manager Tel: +44 (0) 1892 786 223 E-mail: simon.kelly@khl.com
CONNECT WITH SOCIAL MEDIA