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President Ferdinand “Bongbong” Marcos Jr. ordered the Department of Transportation (DOTr) to renegotiate the loan agreements for three railway projects to gain more investments in the rail transport sector, an official of the DOTr bared on Saturday.
The Department of Finance (DOF) would not throw in the towel yet on hope that Beijing could still fund the three big-ticket railway projects that were initiated by the Duterte administration. Amid reports that the Chinese loan applications for the Bicol, Subic-Clark, and Mindanao railway proj
The Chinese government did not act on the Duterte administration’s request for loan financing for three major railway projects, therefore it is considered withdrawn and has to be renegotiated by the current government, a top official of the Department of Transportation (DOTr) said Friday.
A Philippine National Railways train (Photo courtesy of DOTr) MANILA - The loan agreements for three railway projects are now considered "withdrawn" after the Chinese government failed to act on the funding requests by the Duterte administration, an official of the Department of Transportation (DOTr) said Friday. DOTr Undersecretary for Railways Cesar Chavez said negotiations for the three projects began in 2018 and have been approved by the National Economic and Development Authority (NEDA) to receive official development assistance (ODA) loan from China. Based on "applicable e...
The construction of bridge deck ancillary works from the No.4 casting yard to Tegal Luar Station of the Jakarta-Bandung High-Speed Railway (HSR) has been completed, creating favorable conditions for the next-stage track-laying work.