Railway System in Mindanao Will Cost $1.7 Billion

Infrastructure projects under the Mindanao Development Corridors program have been approved for funding while the feasibility study for the biggest planned venture, the Mindanao Railway System, has been completed according to an official of the Mindanao Development Authority (MDA). The feasibility study started last year.

Two foreign firms are reportedly interested in funding the Mindanao Railway System with Php78 billion($1.7 b) in funding after the feasibility study was completed.

These firms came from Japan and Indonesia according to an MDA official. The firms name were withheld but the Indonesian company is believe to be the Salim Group of Indonesian billionaire Anthony Salim which it had already expanded his business empire in the Philippines with stakes at PLDT, Meralco, Smart Telecommunications, MRT and NLEX.

As shown below, the whole project cost at P78 billion covering approximately 2,000 kilometers of railways connecting Mindanao’s major cities. Implementation will be done in six (6) phases with Phase 1 covering the Iligan-Gingoog link while Cagayan de Oro will be on the Phase 6 of this project.

The Mindanao Railway System is now subject for NEDA approval. The official from the MDA has noted that the next President will play a vital role in pushing this project, “It’s for the next President to decide and make it happen”.

“This project is long overdue and the people of Mindanao is longing this project to be implemented” the official lastly added.