NEDA Board okays multi-billion Metro Manila subway project
The P355.6-billion Metro Manila Subway Project (MMSP), one of the big ticket infrastructure projects of this administration, has secured secured the approval of the National Economic and Development Authority (NEDA) Board and is now ready for launching.
In a statement, Department of Transportation said that after the presentation of the MMSP, the NEDA Board gave its nod to Sec. Arthur Tugade to implement the project, which will be funded via Official Development Assistance (ODA), with an interest of 0.10% per year, payable in 40 years, inclusive of a grace period of 12 years.
Tudagde has been pushing for the early completion of the subway project, which will run from Quirino Highway in Quezon City to the NAIA complex in Parañaque City.
Earlier this month, the NEDA Investment Coordination Committee (NEDA-ICC) endorsed the extension of the NAIA complex.
“The extension will mean greater connectivity and improved passenger comfort and convenience,” Secretary Tugade said. “In other countries, you can reach other cities without ever leaving the platform. So we [economic managers] thought, since we’re going to build a subway anyway, why not push to extend it to NAIA? It just makes perfect sense,” Tugade said.
According to DOTr Undersecretary Cesar Chavez, the DOTr, together with the Japan International Cooperation Agency (JICA), scheduled the groundbreaking for MMSP in the fourth quarter of 2018, and is pushing for partial operations in 2022, and full operations by 2025.
“Secretary Tugade has been working closely with JICA in order to expedite the completion of the project and allow the public to enjoy the benefits of a subway system earlier,” Chavez said.
Apart from a world-class design, the subway system will have water-stop panels, doors, and high-level entrance for flood prevention, earthquake detection, and a train stop system, just like the subways in Tokyo.