The $4.4-billion subway system for Metro Manila, targeted for full completion before President Rodrigo Duterte’s term ends in 2022, may require an upward cost adjustment, the country’s chief economist said.
National Economic Development Authority director general Ernesto Pernia said the project cost of the Mega Manila Subway is “not yet totally complete.”
“The cost may increase because the Department of Transportation wants to accelerate the completion from 2024 to 2022, which means that there will be more borers for the tunneling needed. Therefore, the cost will go up,” he said.
Pernia said the project cost could probably reach $6 billion or $7 billion.
“We don’t know the exact number yet,” he said.
The project’s feasibility study was conducted with the help of a grant from the Japan International Cooperation Agency.
President Duterte and Japanese Prime Minister Shinzo Abe are expected to sign an agreement for the construction of the subway project on the sidelines of the Asean Summit in November.
The Mega Manila Subway, which will run from Quezon City to Taguig City, is a 25-kilometer underground mass transportation system connecting major business districts and government centers.
It is expected to serve around 370,000 passengers per day in its opening year.