First PH Subway System now approved by NEDA-ICC
Is a new subway coming really soon? The National Economic Development Authority Investment Coordinating Committee (NEDA-ICC) has approved the project that will give way to the construction of the country’s first subway system located in Metro Manila.
The subway route spans 12 kilometers from Market! Market! in Taguig and pass through strategic locations such as MRT Buendia and Ayala stations, Ayala Triangle, Makati Post Office, PNR Buendia station, then to LRT-1 in Buendia and Taft, then across Roxas Boulevard and SM Mall of Asia before turning to its last stop in MRT Taft Avenue station.
The said project will be under the Public-Private Partnership (PPP) program and is the most expensive PPP to date as it costs Php370 billion, as experts say that building an underground railway may likely to cost double the price than that of elevated platforms. This is about 14% of the 2.6 Trillion-Peso National Budget, and rival that of the most allocated department’s funds, DepED, with Php310 billion. Under the PPP, the private sector will be the one covering all the cost for the project.
NEDA also pinpoints that property developers may appreciate the effect of having an underground transportation system, as elevated ones may be an eyesore.
Along with the new subway, the NEDA-ICC also approved other infrastructures such as the Manila-Legazpi-Calamba railway, the Tarlac-Pangasinan-La Union expressway (TPLEX), and several other projects to improve government services.