PH seeks $1B loan to fund MRT4

The government is seeking a $1 billion loan assistance from the Asian Development Bank (ADB) to finance a 15.56-kometer long elevated monorail transit system which will connect Quezon City to the province of Rival.

ADB said the project would provide a reliable, rapid, affordable, and safe public transport, and reduce traffic congestion.

It will also cut travel time from Taytay to the Ortigas central business district to less than an hour from the current 1 to 3 hours.

MRT4 will have 11 stations and 2 provisional stations in the future.

“In the Philippines, substantial underinvestment in infrastructure has led to chronic capacity constraints in the transport sector, resulting in economic losses due to road congestion and in significant air pollution, as 98 percent of passenger transport and 55 percent of freight transport are by road. Making Metro Manila one of the most dense and congested natural cities in the Asian region,” ADB said.

MRT4 is also seen to ensure the high economic growth and inclusive urban development of eastern Manila, the Ortigas CDB, Pasig city and the neighboring Rizal province, the ADB said.

Construction works are targeted to start in 2024 while the project is slated for completion in 2028.

MRT-4 is expected to serve 4,464 passengers per hour per day-peak and 2,678 passengers per hour per day off-peak with an estimated travel time of 27 minutes from N. Domingo in San Juan City to Taytay.

By 2030, MRT4’s daily ridership is expected to reach 328,804.

Yuchengcos build new solar power plant in Bohol

PetroGreen Energy Corp., the renewable energy arm of Yuchengco-led PetroEnergy Resources Corp. (PERC), launched its planned 27 megawatts of direct current (MWDC) Dagohoy solar power project (DSPP) in a 22-hectare site in Bohol.

Yuchengcos build new solar power plant in Bohol

PetroGreen Energy Corp., the renewable energy arm of Yuchengco-led PetroEnergy Resources Corp. (PERC), launched its planned 27 megawatts of direct current (MWDC) Dagohoy solar power project (DSPP) in a 22-hectare site in Bohol.

Germany raids properties belonging to Russian oligarch

German investigators on Wednesday raided properties belonging to a Russian oligarch suspected of tax evasion and breaking EU sanctions, police and prosecutors said, with sources naming billionaire Alisher Usmanov as the target.

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