A Malaysian firm and a private Filipino firm have signed a memorandum of understanding (MOU) to build a light rail transit worth $1 billion, that would run from Diliman, Quezon City, to Quiapo, Manila, according to local reports.
Trade Secretary Ramon Lopez said that should the project come into fruition, it would be a welcome investment for the Philippines.
Secretary Lopez also added that although an MOU was signed, the proposal, which was unsolicited, was considered an initiative of Philippine company A. Brown, and Malaysan firm East-West Rail Transit Corp. This means that their offer would have to go through regular government processes.
The project would reportedly take 36 months, or 3 years, to complete.
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