Finance Secretary Benjamin Diokno signed on Friday the Metro Rail Transit Line 3 Rehabilitation Project loan agreement with Japan International Cooperation Agency, represented by Chief Representative in the Philippines Sakamoto Takema, at the Department of Finance office in Manila.
The rehabilitation project was originally approved by the National Economic and Development Authority board on Aug. 22, 2018 with the aim of improving the safety and service of the MRT 3—a 16.9-kilometer mass rail transit system with 13 stations along EDSA Corridor from North Ave. in Quezon City to Taft Ave. in Pasay City.
The rehabilitation includes provisions for capacity including rolling stock, rail tracks, signaling system, power supply system, overhead catenary system, communications system and depot and station equipment.
The 17.4-billion-yen or $130-million supplemental loan for the MRT 3 was approved by the NEDA board on Feb. 2, 2023 to finance the increase in the total project cost amounting to P29.6 billion, following the additional scope of work submitted by the Department of Transportation.
