ICC approves Subic-Clark Railway proj

The Investment Coordination Committee (ICC) has approved the P57.6 billion Subic Clark Railway Project, which will connect all major economic hubs within Central Luzon.

In an interview, Finance Secretary Carlos Dominguez said the ICC, during its meeting last Friday, gave its go-signal for the project to be implemented by the Department of Transportation (DOTr).

“The ICC approved the Subic Clark Railway Project that will be implemented by the DOTr. The cost is roughly P50 billion, and that will be part of the railway network connected hopefully when it’s all completed,” Dominguez said.

The project will be forwarded to the National Economic and Development Authority (NEDA) board, also for approval.

The project will provide rail connection between Subic Bay Freeport Zone, and the Clark Freeport and Special Economic Zone.

It is intended to link the Subic Port with Clark International Airport and other major economic hubs in Central Luzon, especially New Clark City, and form an integrated logistics hub for the development of Central Luzon.

Meanwhile, Dominguez said the ICC also approved the P1.3 billion increase in the estimated cost of the Metro Manila Subway Project.

The project was originally estimated to cost around P227 billion, but this was later raised to P355.6 billion. With the new adjustment, the estimated cost of the project will now be P356.9 billion.

“They feel that there will be a P1.3 billion additional cost that have not been originally estimated and this should cover any potential damage to for example the underground wires, just in case, they damage the utility lines, the subterranean cables,” Dominguez said.