JICA has announced plans to provide an ODA loan for the maintenance and rehabilitation of Mass Rail Transit Line 3 (MRT-3). The loan will be provided at an annual interest rate of 0.1 per cent annual for a period of 40 years with a 12-year grace period.
JICA has announced plans to begin a one-month feasibility study in January 2018. The agency is considering the joint venture (JV) consisting of Sumitomo Corporation and Mitsubishi Heavy Industries for providing rehabilitation and maintenance. The final selection will take place by April 2018.
The Department of Transportation in the Philippines is also evaluating the proposal of the Metro Pacific Investments Corporation for the rehabilitation and takeover of the MRT system.
MRT-3 spans 16.9 km and covers 13 stations. Daily ridership is 450,000 passengers.