MANILA, Philippines – The Department of Transportation (DOTr) said on Monday, October 10 that they aim to finalize the negotiations on the loan secured by China that will be used for the country’s major railway projects in early 2023.
According to Transportation Secretary Jaime Bautista, the DOTr is ready to start big projects such as the PNR South Long Haul Project, the Subic-Clark Railway, and the Mindanao Railway after China agreed to repeat the negotiations.
“We’re expecting that we should be able to finalize the loan maybe by early next year and if that’s done by the DOF (Department of Finance), we can start again working on the project,” ani Bautista kasabay ng EJAP Infrastructure Forum sa Pasay City.
“We have already worked on the technical aspect of the project. It’s a matter of getting the contractor and finalizing the contract with them,” dagdag pa niya.
It will be remembered that the Philippines’ loan did not continue after China did not respond to the government’s request to the management of former President Rodrigo Duterte for loan financing of such projects. RNT/JGC
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