The secretary of Philippines’ National Economic and Development Authority (NEDA) Ernesto Pernia, said that the Mindanao railway project may start this year. According to his declarations, the feasibility study for the proposed 2,000 km rail network should be completed next month.
The feasibility study is conducting by Japan International Cooperation Agency (JICA). “The feasibility study is about to be completed. It’s likely to get started in terms of implementation this year because that is going to be an iconic project, a major project, and of course close to the heart of the President,” Pernia said.
The USD 2.55 billion project involves the construction of a railway network linking the cities of Davao, General Santos, Butuan, Cagayan de Oro, Cotabato, and Malaybalay.
According to Pernia, China, Japan and Malaysia expressed the interest to finance the project’s construction, while the government may consider co-financing with multilateral lenders such as the Asian Development Bank, the China-led Asian Infrastructure Investment Bank and the World Bank.