The total cost of developing Metro Rail Transit Line 4 (MRT-4) in Manila has increased from P59.3 billion to PHP87 billion due to changes in the project design and technology. Of the PHP87 billion required, PHP2.32 billion will be allocated for the early works; PHP48 billion will be allocated for constructing depot, main line, stations and receiving substations; PHP37 billion will be allocated for executing electromechanical and track works, and the supply of rolling stock.
The MRT-4 will be co-funded by the Asian Development Bank (ADB) and Asian Infrastructure Investment Bank (AIIB). The Department of Transportation (DoTr) has a pending loan request with the ADB to finance the construction of MRT-4 Line.
With the revised project cost, the Department of Finance will make final adjustments to the loan request. The loan contract is expected to be signed by the end of 2023. Construction works are expected to start by Q3 of 2024, with commercial operations scheduled in 2028.