THE feasibility study for the Mindanao Railway project had been completed and is already up for presentation to the National Economic and Development Authority (Neda) Board Investment Committee by the third quarter of the year, a Neda official said.
During the press conference held Saturday, March 18 at the Francisco Bangoy International Airport in line with Chinese Vice Premier Wang Yang’s visit to Davao City, Neda Regional Director Maria Lourdes Lim said any bilateral or multilateral source of financing including the private sectors, can now bid for the Mindanao Railway project.
The project is expected to be around 2,000 kilometers long targeted to connect major cities in Mindanao such as Davao, Zamboanga, Butuan, Surigao, Cagayan de Oro, Iligan, and General Santos City.
Japan, China, and Korea were among the foreign governments that had previously expressed interest in investing to the project.
Aside from these official development assistance expressed by different countries, private firms had already considered investing in the project such as Ayala Corporation, Megawide Construction Corporation, Metro Pacific Investments Corporation, and San Miguel Corporation.
Meanwhile the feasibility study for the Davao Railway System is still being completed.
It was previously reported that China Railway Engineering Corporation consultant Jiang Zhiping, together with the Manila-based transportation company Philtram chief operating officer Jose Guardo Jr. will present a proposal to the Davao City Council for the establishment of a monorail system in the city.
“The expressway is a different project. The expressway feasibility study will have to be undertaken. The Chinese government through this delegation expressed interest in undertaking the feasibility study,” said Lim.
She said a Korean engineering company had already presented a proposal earlier to the Davao City Government regarding the establishment of an expressway however it was given back to the proponent for some revisions.