PRESIDENT Ferdinand 'Bongbong' Marcos Jr. is looking to renegotiate the country's loan agreements with China for the three big-ticket railway projects that were initiated by the Duterte administration, Malacañang said on Saturday.
PRESIDENT Ferdinand 'Bongbong' Marcos Jr. is looking to renegotiate the country's loan agreements with China for the three big-ticket railway projects that were initiated by the Duterte administration, Malacañang said on Saturday.Marcos issued this directive to the Department of Transportation amid reports that the Chinese loan applications for the Bicol, Subic-Clark and Mindanao railway projects have been withdrawn.
Meanwhile, the P51-billion Subic-Clark Railway Project is part of North-South Commuter Railway or the PNR Luzon System Development Framework.Meanwhile, the first phase of the Mindanao Railway was supposed to begin construction by the first semester this year but was delayed by the Covid-19 pandemic.Phase 1 of the Mindanao railways involves building a 100-kilometer train line connecting Tagum, Davao and Digos.
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