Plans for private sector funding called off for rail-projects in the Philippines

The Department of Transportation (DOTr) has called-off plans to use private-sector funding to develop three rail projects in the Philippines. The agency has submitted a funding application worth PHP308 billion to the Government of China for the projects.

The loan application includes PHP83 billion for the Mindanao Railway, PHP50 billion for the Subic-Clark railway project and PHP175 billion for the Philippine National Railways (PNR) South Long-Haul Project (PNR Bicol).

Negotiations are currently ongoing regarding the terms and conditions of the loan.