Japanese loan green-lights road project

By Andy Brown06 March 2018

The Philippines and Japan have signed a new loan deal that will see the expansion of a road in the Bulacan province in the Philippines. The load deal is for 9.3 billion Japanese YEN (US$88 million) for the construction of the third phase of the Arterial Road Bypass Project.

Phillipines road

The loan is for the third phase of the Arterial Road Bypass Project

The Philippine’s Department of Finance (DOF) also noted that the Philippines will provide counterpart funding of PHP 1 billion (US$15 million) for the project, which has a total cost of 10.8 billion YEN (US$104 million).

The Arterial Road Bypass is a 24 km arterial road that will link the North Luzon Expressway in Balagtas, Bulacan with the Philippine-Japan Friendship Highway, in San Rafael, Bulacan.

The agreement for Phase 3 of the project, according to the DOF, provides for interest rates of 1.5% per annum for non-consulting services and 0.01% per annum for consulting services with a repayment period of 20 years and a 10-year grace period.

Phase 1 of the project was completed 2012, and Phase 2 is expected to be inaugurated in May 2018.

Both Phase 1 of the project at 6.3 billion YEN (US$55.6 million) and Phase 2 at 4.591 billion YEN (US$40.90 million) were financed with official development assistance (ODA) loans from Japan signed in 2004 and 2012.

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
10 ways to join the hydrogen power revolution
Interest in the use of hydrogen has soared over the past few years as the construction industry races to reduce its carbon footprint. We roundup some recent initiatives
Telescopic boom lifts - the trends
Higher capacities and 100% electric models are the trend. And what lies ahead for 200ft models, or above?
How construction can become sustainable
The construction industry is undergoing a transformative shift to adapt more environmentally friendly practices
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