Metro Manila subway, 4 other new major projects approved

The National Economic and Development Authority (Neda) Board has approved the P588-billion Metro Manila Subway Project and four other flagship projects.

In a statement, Socioeconomic Planning Secretary Ernesto Pernia said the first phase of the subway project will “significantly improve Metro Manila’s transportation system, air quality, and productivity.”

Pernia, who chaired the meeting in the absence of President Rodrigo Duterte, said the project will be financed through official development assistance from Japan.

The first phase will begin construction early next year and will run from Mindanao Avenue in Quezon City to FTI in Taguig and end at the Ninoy Aquino International Airport in Parañaque City. This will require P355.58 billion. The entire project will require a total initial investment of P588 billion.

The approval of the new projects brought the total number of approved projects to 35 worth P1.2 trillion, excluding the cost of the Tawi-Tawi bridges.

Another new project approved by the Neda Board is the P19-billion Improving Growth Corridors in Mindanao Road Sector Project.

The project involves the upgrading of seven roads and the widening of a 40-kilometer road segment with slope protection.

It also includes three Tawi-Tawi bridges, which were conditionally approved.

Construction will begin late this year and end in the fourth quarter of 2020. It will be financed through a P19-billion loan from the Asian Development Bank.

The three other new flagship projects are the Binondo-Intramuros and Estrella-Pantaleon Bridges Construction Project, Lower Agno River Irrigation System Improvement Project, and Infrastructure Preparation and Innovation Facility project.

The Neda Board also approved revisions in four projects, including the Cebu Bus Rapid Transit Project.