The governments of the Philippines and Japan on Tuesday signed the loan agreement for the third tranche of official development assistance financing the country's first underground railway system, the Metro Manila Subway project.The Philippine Department of Finance and the Japan International Cooperation Agency inked the loan deal amounting to ¥150 billion, or about P55.37 billion.The first tranche amounting to ¥104.53 billion, or P47.
These are the CP 101, covering four stations—East Valenzuela, Quirino Highway, Tandang Sora, and North Avenue—and the depot and the Philippine Railway Institute Building, bagged by a joint venture led by EEI Corp.; the CP 102, comprising the stations in Quezon Avenue and East Avenue, bagged by D.M. Consunji Inc.; the CP 103, bagged by Sumitomo Mitsui Construction Co. Ltd., which involves the stations from Anonas to Camp Aguinaldo; and Megawide Construction Corp.