MANILA, Philippines — The Philippines' first-ever underground mass transport system is almost halfway through completion after it recorded an overall project implementation progress rate at 40% as of January 2024.
The Department of Transportation (DOTr) shared the news during the site inspection of the Metro Manila Subway Project (MMSP), together with Finance Secretary Ralph Recto and Japan International Cooperation Agency (JICA) Chief Representative to the Philippines Takema Sakamoto on Monday.
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"We have shown to Secretary Ralph Recto the ongoing development and briefing on what the project is all about, and with the support of JICA we are implementing this project on time for completion in 2029," said Bautista.
The MMSP is currently being financed by two active loan agreements and is expected to enter into a third tranche of loan worth ¥150 billion by March 2024.
The project includes the construction of a deport and a 33-kilometer railway line made up of 17 stations that will connect Valenzuela City to Pasay City with a spur line to Terminal 3 of Ninoy Aquino International Airport (NAIA) in Parañaque City.
Through the project, state officials aim to reduce travel time from Valenzuela to NAIA from 1 hour and 30 minutes to just 35 minutes while servicing 519,000 passengers on a daily basis.
Completion by 2029
Bautista said that the DOTr is currently in discussion with the National Economic and Development Authority (NEDA) and the Department of Finance (DOF) for review of draft documents pertaining to the loan deal provided by JICA and the government of Japan.
"With the support of JICA, we are implementing this project on time for completion in 2029," Bautista continued.
Recto has also expressed support to ensure the project is completed on time, while the DOTr addresses the right-of-way issues.
It could be remembered that the MMSP only resumed its actual construction in January 2023 following the right-of-way issues after some property owners refused to surrender their land to the state.
"The Department of Finance is fully committed to securing the funding for this project," said Recto. "We aim to finalize the loan agreement for the 3rd tranche of financing by March 2024."