The National Economic and Development Authority (NEDA) Board during its April 25 board meeting at the Bangko Sentral ng Pilipinas approved the Subic-Clark Railway along with 7 other projects.
“The Subic-Clark Railway Project is a 71.13-kilometer railway that will connect Subic Bay Freeport Zone and Clark Freeport Zone to support current industrial activities and the potential demand for freight services along the Subic-Clark corridor,” NEDA said.
It added that the project will cost PhP50.03 billion, of which PhP42.53 billion will be financed through Official Development Assistance (ODA) and PhP7.51 billion through local funds.
“This project is seen to help decongest Metro Manila traffic, provide infrastructure for the Metro Luzon Urban Beltway, and spur the development of a freight railway system for Luzon,” NEDA said.
“We are pleased to see more infrastructure projects in the pipeline. As we roll them out, government shall keep working towards developing the country’s infrastructure to ensure easing of congestion in Metro Manila and spreading growth to the regions,” said Socioeconomic Planning Secretary Ernesto M. Pernia.