Philippines Plans ‘Half A Trillion’ Peso Transportation Projects

The Philippines will offer “half a trillion” pesos of infrastructure projects in the next five years to improve transportation and boost the economy, Transportation and Communications Secretary Mar Roxas said in Manila today.

The government will seek “low-cost” funding for these projects and may seek loans from multilateral agencies or auction the projects to private companies, Roxas said in a forum. The state may also finance some, he said.

The projects include a high-speed train from Manila to Clark, provincial airports as well as extension rail projects in the capital, Roxas said.

The government in September last year said it will invite bids for infrastructure projects worth more than 700 billion pesos.

To contact the reporter on this story: Max Estayo in Manila at mestayo@bloomberg.net

To contact the editor responsible for this story: Cecilia Yap at cyap19@bloomberg.net

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