The National Economic and Development Authority (NEDA) approved today the Php335.6-billion Metro Manila Subway Project (MMSP I).
The project will start construction next year and is expected to be completed by 2025. The subway dubbed as the Mega Manila Subway will run from Mindanao Avenue in Quezon City to the Ninoy Aquino International Airport (NAIA) in Parañaque City and is 25-kilometers long. The Japan International Agency (JICA) provided the project with a $7 Billion official development assistance with an interest rate of 0.10% a year and payable in 40 years with a grace period of 12 years. The loan agreement is to be signed in November during the 31st ASEAN Summit by President Rodrigo Duterte and Prime Minister Shinzo Abe.
Source: GMA News Network