MRT and Bullet Train Project of approx $4.3 Billion USD (₱182 billion Peso)
The $1.43-billion (₱53 billon) Metro Rail Transit Line 7 (MRT-7) and the $3-billion (₱123 billon) Clark-Metro Manila Bullet Train Project will be constructed under Built-Operate-Transfer (BOT) schemes, the National Economic Development Authority (NEDA) said Thursday.
The Japan International Cooperation Agency (JICA) will finance the $1.23-billion Metro Rail Transit Line 7 (MRT-7). NEDA said the new MRT line will be constructed under a BOT scheme in accordance with Republic Act 7718. The initial construction will be put up in Barangay Tala in San Jose Del Monte. The new MRT line will run through Fairview, Commonwealth Avenue, Quezon City Memorial Circle and North EDSA. The final station will be constructed in the Paramount theater in front of SM North EDSA and the Triangle of North Manila (TriNoMa) mall.
NEDA added that the new lane will be connected to the now operational LRT-MRT Closing Loop Interconnection Project. Once the MRT-7 Line is completed, the Paramount Station will be a Mega Rail Station.
NEDA also announced that private firm Metro Pacific Investments Corporation (MPIC) has made its intention to fund the Clark-Metro Manila bullet train project under BOT scheme. The plan is to construct the new railways between the lanes of the North Luzon Expressway (NLEx) because an earlier proposal to construct it parallel to the railway was scrapped due to some technical problems.
Clark International Airport Corp. (CIAC) said the project will be called "Express Airport Trains" which will have at least three stops in Metro Manila. CIAC said when completed, the bullet trains will shorten travel time from Clark to Manila, and vice versa, to only 45 minutes. The bullet trains' planned stopovers are Balintawak or near TriNoMa or SM North in Quezon City; Manila like Dimasalang or University of Sto. Tomas; and Makati at Buendia Avenue.
