The Philippines and Japan have conducted exchanging of Note Verbales early this week which is considered a milestone in the procurement of rehabilitation and maintenance provider for MRT-3.
The Department of Transportation (DOTr) is seeking Official Development Assistance (ODA) financing under Japan International Cooperation Agency’s (JICA) Special Terms for Economic Partnership (STEP).
With the exchange of Note Verbales, JICA will conduct a Feasibility Study until next month. DOTr said after completion of Feasibility Study, needed government approvals will be processed.
“Signing of the loan agreement and procurement of the rehabilitation and maintenance provider will then follow in March to April, and mobilization of the Japanese provider is expected within the 2nd quarter,” DOTr said.
“The procurement of a Japan-nominated rehabilitation and maintenance provider will be done pursuant to JICA’s procurement guidelines. Given the urgent need to restore MRT-3’s reliability and capacity, Japan has given assurances that it will nominate a provider that is highly qualified, and has a robust and reliable track record,” DOTr added.