Philippines to sign $3.3-billion railway loan deal with China

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Philippine President Duterte and his Chinese counterpart Xi Jinping are set to sign this month a 175-billion pesos ($3.3 billion) credit deal to build the South Railways project, a 639-kilometer standard gauge railway line between Manila and Bicol. The project forms part of the massive “Build, Build, Build” infrastructure programme of the Duterte administration.

The project is among the big-ticket infrastructure projects to be funded under an Official Development Assistance agreement, a Department of Foreign Affairs official said, according to the Philippine Star. Xi’s visit will take place after the Asia-Pacific Economic Cooperation Summit from November 12 to 18 in Papua New Guinea.

Albay Rep. Joey Salceda, the project’s original proponent, said the modern railway project would be a major backbone of economic development in Southern Tagalog and Bicol with spillover benefits to other regions of the country.

The South Railways project, which we have tediously designed as a key that will unlock the economic potentials of the vast Southern Tagalog and Bicol areas, is now finally coming to realisation,” Salceda said.

Once completed, the project will enhance the connectivity between major airports and seaports in Southern Tagalog and the Bicol regions and as well as serve untapped areas along the route, he said.

The South Railway segment is expected to cut Manila-Legazpi travel down to less than five hours. It runs from Manila to Matnog in Sorsogon with nine major stations – Manila, Los Baños, Batangas City, Lucena, Gumaca, Naga City, Legazpi City, Sorsogon City and Matnog.

Its construction is set to start in the second quarter of 2019 and will be partially operational by the second quarter of 2022.

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Reading Time: 1 minute

Philippine President Duterte and his Chinese counterpart Xi Jinping are set to sign this month a 175-billion pesos ($3.3 billion) credit deal to build the South Railways project, a 639-kilometer standard gauge railway line between Manila and Bicol. The project forms part of the massive “Build, Build, Build” infrastructure programme of the Duterte administration.

Reading Time: 1 minute

Philippine President Duterte and his Chinese counterpart Xi Jinping are set to sign this month a 175-billion pesos ($3.3 billion) credit deal to build the South Railways project, a 639-kilometer standard gauge railway line between Manila and Bicol. The project forms part of the massive “Build, Build, Build” infrastructure programme of the Duterte administration.

The project is among the big-ticket infrastructure projects to be funded under an Official Development Assistance agreement, a Department of Foreign Affairs official said, according to the Philippine Star. Xi’s visit will take place after the Asia-Pacific Economic Cooperation Summit from November 12 to 18 in Papua New Guinea.

Albay Rep. Joey Salceda, the project’s original proponent, said the modern railway project would be a major backbone of economic development in Southern Tagalog and Bicol with spillover benefits to other regions of the country.

The South Railways project, which we have tediously designed as a key that will unlock the economic potentials of the vast Southern Tagalog and Bicol areas, is now finally coming to realisation,” Salceda said.

Once completed, the project will enhance the connectivity between major airports and seaports in Southern Tagalog and the Bicol regions and as well as serve untapped areas along the route, he said.

The South Railway segment is expected to cut Manila-Legazpi travel down to less than five hours. It runs from Manila to Matnog in Sorsogon with nine major stations – Manila, Los Baños, Batangas City, Lucena, Gumaca, Naga City, Legazpi City, Sorsogon City and Matnog.

Its construction is set to start in the second quarter of 2019 and will be partially operational by the second quarter of 2022.

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