Metro Manila to Bicol Express railway project frozen as China funding uncertain | ABS-CBN

ADVERTISEMENT

dpo-dps-seal
Welcome, Kapamilya! We use cookies to improve your browsing experience. Continuing to use this site means you agree to our use of cookies. Tell me more!

Metro Manila to Bicol Express railway project frozen as China funding uncertain

Metro Manila to Bicol Express railway project frozen as China funding uncertain

Jacque Manabat,

ABS-CBN News

Clipboard

MANILA — The government paused the construction of the Bicol Express train as funding for the project has not been finalized, Philippine National Railways (PNR) General Manager Jeremy Regino said Tuesday.

In the initial plan, China was supposed to be the government's partner in funding the Bicol Express train project, also known as PNR South Long Haul.

The country however is still uncertain whether this will push through, despite the ongoing construction of the North-South Commuter Railway that will connect Pampanga, Bulacan, Metro Manila, and Laguna.

The finance and transportation departments are working to find alternative sources of funding.

ADVERTISEMENT

It is possible that the project may be financed through Official Development Assistance (ODA) or through a hybrid collaboration between the government and the private sector or PPP.

Watch more News on iWantTFC

Regino did not mention how long the government is willing to wait for funding from China. Negotiations are ongoing between China and the Philippine government, he said.

"If it is not concluded then we will have to look for other options rather than continuously waiting for a China-funded South Long Haul project," Regino said.

Currently, there are trips from Naga to Ligao, and the goal is to extend this route to Legaspi once the Alabang-Tutuban route is closed next year to make way for the construction of the North-South Commuter Rail.

"While the funding source for the South Long Haul is being fixed or arranged, we cannot let our province-mates wait. So the PNR right now, the stoppage of operations will mean a gain for our southern province-mates because the rollings stocks plying the routes in Metro Manila will now ply the routes from Calamba to Legazpi," Regino said.

The PNR South Long Haul will cover a distance of 565 kilometers, traveling between Sucat, Paranaque, and Matnog, Sorsogon.

The project was supposed to be funded with a loan of P142 billion from the Export Import Bank of China, but it has not been approved yet.

"Principally, its (challenge) is the right of interest as well as the priorities of the Chinese government to choose which projects they would want to finance and pursue so those are the two… the right of interest is a matter of interest and how badly or how enthusiastically China would want to pursue the project," Regino said.

PNR is hopeful that hosting the Asian Rail CEO Conference this year will provide them with insights from other rail systems in Asia. The Philippines last hosted the conference in 1996.

ADVERTISEMENT

EU vows to respond 'firmly and immediately' to US tariffs

EU vows to respond 'firmly and immediately' to US tariffs

Agence France-Presse

 | 

Updated Feb 14, 2025 06:39 PM PHT

Clipboard

BRUSSELS, Belgium — The EU vowed Friday to respond "firmly and immediately" to trade barriers after US President Donald Trump unveiled tariffs that could hit both allies and competitors.

The European Commission said Trump's plans were "a step in the wrong direction" that heightened economic uncertainty and disrupted the efficiency of global markets.

"The EU will react firmly and immediately against unjustified barriers to free and fair trade," the commission, which runs trade policy for the bloc's 27 nations, said in a statement.

Trump said Thursday he had decided to impose reciprocal duties, in a dramatic escalation of an international trade war he has unleashed since taking office in January.

ADVERTISEMENT

Speaking in the Oval Office, the Republican said that US allies were often "worse than our enemies" on trade, and took particular aim at the EU, calling it "absolutely brutal" in its commercial relations with Washington.

The levies would be tailored to each US trading partner and consider the tariffs they impose on American goods, alongside taxes seen as "discriminatory," such as value-added taxes (VATs), a White House official said on condition of anonymity.

"The EU maintains some of the lowest tariffs in the world and sees no justification for increased US tariffs on its exports," the European Commission said, vowing to protect European firms and consumers.

"Tariffs are taxes. By imposing tariffs, the US is taxing its own citizens, raising costs for business, stifling growth and fuelling inflation."

Since taking office, Trump has announced a broad range of tariffs targeting some of America's biggest trading partners, arguing that they would help tackle unfair practices -- and in some cases using the threats to influence policy.



ADVERTISEMENT

ADVERTISEMENT

It looks like you’re using an ad blocker

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker on our website.

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker on our website.