Former House ways and means committee chairman Renato Diaz, now presidential assistant for Northern Luzon, said in an interview yesterday that Malacañang is set to reactivate the Northrail Corp. under the Bases Conversion Development Authority (BCDA) so that the long-delayed modern railway project could be started.
"We have reiterated our interest to the Japanese government for $1.2 billion loan or the first phase of the railway project extending from Caloocan City to Calumpit, Bulacan," Diaz said in an interview at his newly established office within the aviation complex here.
He said that bidding on the railway project would be done as soon as the Obuchi fund is made available, expectedly before March next year. Ding Cervantes