THE National Economic and Development Authority Board Investment Coordination Committee approved Thursday the P22.061-billion rehabilitation project of MRT Line 3 that will restore the 18-year-old rail system connecting the north and south sections of Metro Manila.
Neda said in a statement Friday the rehabilitation would increase the number of train sets in operation from 15 to 18 per hour, increase the maximum speed to 60 kilometers per hour and decrease headway to 200 seconds.
The project, executed by the Department of Transportation, is part of the agency’s strategy for restoring, upgrading and regularly maintaining the MRT 3 over the long term.
“With the upcoming rehabilitation of the MRT 3, we expect improvements in service efficiency and security of the existing train line,” Economic Planning Secretary and Neda director-general Ernesto Pernia said.
“Over the long term, we envision the MRT to be a very convenient and efficient mode of transportation that will encourage car owners to shift to public transportation, thereby reducing traffic congestion in Metro Manila,” Pernia said.
The MRT 3 Rehabilitation Project will have a total cost of P22.061 billion and will be funded through a loan from the government of Japan. Work is set to start in the third quarter of 2018 and be completed in the first quarter of 2021.
Meanwhile, the ICC-CabCom approved the request of the Department of Agriculture-Bureau of Fisheries and Aquatic Resources to cancel the 28.52 million euro French Treasury loan for the Integrated Marine Environment Monitoring System-Phase 2 to enable DA-BFAR to implement the project using local funds.
The project aims to integrate various databases, including fishing vessel registry, ocean and weather data, stock assessment data and illegal, unreported and unregulated fishing records.
