The Investment Coordination Committee – Cabinet Committee (ICC CabCom) of the National Economic and Development Authority has approved the Subic-Clark Railway Project. The proposed railway, which will link the Subic Bay and Clark freeports and other major economic hubs in Central Luzon, is expected to help make the region into a new growth center that will also relieve the congestion in Metro Manila.
Funding sources for the project, which is targeted for completion by April 2021, have yet to be determined. The value of the project is estimated at P57.6-billion (EUR 905 million). Projects approved by ICC-Cabcom are subject to final approval by the NEDA Board headed by the President.
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