Friday, 8 January 2010

Rail deals to be inked this year

THE PHILIPPINE National Railways (PNR) expects deals on two major projects to be signed this year that will be funded by official development assistance totaling $350 million from South Korea and China.

PNR General Manager Manuel D. Andal said in a recent phone interview that his office expects the $92-million loan agreement with the Export-Import Bank of Korea for the 27-kilometer Phase 2 of the Northrail-Southrail Linkage project, which will run from Alabang to Calamba (phase 1 covers the 34-km stretch from Caloocan to Alabang), to be signed this September.

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