The Department of Finance (DOF), in behalf of the Philippine government, signed two loan agreements with the Japan International Cooperation Agency (Jica) amounting to a combined P98.69 billion to help fund the NSCR-Ex Project and the Pasig-Marikina River channel Improvement Project Phase IV.
For the NSCR-Ex project, Finance Secretary Carlos G. Dominguez III and Jica Director General Shigenori Ogawa signed the P80.47-billion loan agreement or about $1.54 billion which represents the first tranche of Japan’s total commitment in providing funding for the project.
They also inked the P18.22-billion loan accord or about $351.8 million for the fourth phase of the Pasig-Marikina River Channel Improvement Project on Monday, which aims to improve flood control management in Metro Manila.
The NSCR- Ex project forms part of the 147-kilometer NSCR System of the PNR, which used to be composed of three separate projects namely: the 38-kilometer line from Manila to Malolos in Bulacan, which is funded by a Jica loan signed in 2005; the 53-km line from Malolos, Bulacan to Clark, Pampanga; and the 56-km line from Manila to Calamba, Laguna.
“The NSCR is comprised of two main lines, the south main line and the north main line. Each main line can actually accommodate one million each per day towards Metro Manila. That’s actually our first metro grade train system…meaning it can reach one million in capacity,” Magno said.
Meanwhile, the fourth phase of this flood control project involves the implementation of channel improvement works along the stretch of the Upper Marikina River, from the Manggahan Floodway to the Marikina Bridge, and the construction of the Marikina Control Gate Structure with two floodgates in Cainta and Taytay, Rizal utilizing Japan’s disaster prevention technology.
PNR evaluating 2 new train services
The Philippine National Railways (PNR) is asking the National Economic and Development Authority (Neda) to conduct feasibility studies on two possible railway services, one extending from Cabanatuan and Bulacan, and another from Nueva Ecija to Tarlac, and connecting it to the North-South Commuter Railway Extension (NSCR-Ex) Project.
PNR General Manager Jun B. Magno revealed this in a news briefing yesterday.
He added that another feasibility study is being conducted on a railway in Cagayan, which would also be connected to the NSCR.