Japan, Korea, China Interested in Funding the Mindanao Railway Project

Unbox 77 - Mindanao Railway System
Here’s some good news for our Mindanaoan siblings. Japan, Korea, and China are ready to provide funding for the proposed Mindanao Railway System project, according to a report by Rappler on Thursday.

The proposed Mindanao Railway System is a 2,000-kilometer railway project aimed at connecting key Mindanao cities Davao, Zamboanga, Butuan, Surigao, Cagayan de Oro, Iligan, and General Santos to improve the region’s transportation and economic situation.

Socioeconomic Planning Secretary Ernesto Pernia said that “China is interested and very eager and Japan has also expressed interest.” The NEDA chief also noted that the South Korean government is also another prospective funder to the project.

“The project is not really limited to just one type of investor or investment and can also be a combination of investments. It still needs to undergo analysis as to which one is the most beneficial,” Pernia added. The project could begin as early as next year.

Other private investors such as the San Miguel Corporation, Metro Pacific Investments Corporation, Ayala Corporation, and Megawide Construction Corporation are also interested in funding the ambitious project.

The Duterte administration is currently undergoing a feasibility study on the project. “You don’t want to say PPP (public-private partnership) right away because some of it might require just a purely government investment, so we have not reached a decision,” said NEDA Deputy Director General Rolando Tungpalan.

Source: Rappler

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