DoF Eyes P55.7 Billion in Addt’l Funding for Subway Project
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DoF Eyes P55.7 Billion in Addt’l Funding for Metro Manila Subway Project

Subway

Anyone who commutes every day can confirm how hard it is to travel around Metro Manila. With hours and energy consumed, commuters are crying for better public transport options – which is why more people are keeping tabs on the multi-billion Metro Manila Subway Project (MMSP)

In a Feb. 26 press conference, Department of Finance (DoF) Secretary Ralph Recto said the project will get an additional P55.7 billion in funding from the Japan International Cooperation Agency (JICA). Fully committed to securing the funding, DoF aims to finalize the loan agreement for the third tranche by March. Meanwhile, a combined P151.1 billion for the fourth and fifth tranches is still under discussion.

Expected to be operational by 2029, the 33-kilometer subway project will have 17 stations stretching from Valenzuela City to Parañaque City. MMSP is projected to cater to 519,000 passengers daily and reduce travel time from 1.5 hours to just 35 minutes.

Recto assured that the government is “running full speed ahead on constructing the Metro Manila Subway and other infrastructure projects all over the country to break the chokehold of congestion.”

For more updates, follow DoF’s Facebook page.

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