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    Air India rationalises international route network through August 2026, to continue operating 1,200+ international flights every month .

    Global health gains face threat of reversal .

    CREDIT-IBM

    IBM Launches Sports Tech Startup Challenge at Web Summit Vancouver .

    logo

    The AI Reckoning: 73% of Executives Report Underwhelming ROI from AI Efforts as Focus Shifts from Hype to High-Stakes Pressure Testing

    NFP, an Aon company, Expands Private Wealth Offering with Acquisition of Metis Ireland

    Roche receives CE mark for new blood test to detect Alzheimer’s pathology: Elecsys® plasma phosphorylated-tau 217 (pTau217).

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    HCL Jigsaw Opens Registrations for 7th Edition with Rs 12 Lakh Prize Pool, Reimagines Innovation Learning for Students.

    Tata Steel reports Consolidated EBITDA of Rs 34,848 crores and Profit after Tax of Rs 10,886 crores for the twelve months ended March 31, 2026.

    CCPA Imposes Penalty on Coaching Institutes for misleading advertisements and unfair trade practices .

    We have delivered a resilient fiscal 2026 amidst an adverse policy in a salient state.”-Mr. Praveen Someshwar, CEO & MD.

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    Bombay Shirt Company

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    Tata Steel reports Consolidated EBITDA of Rs 34,848 crores and Profit after Tax of Rs 10,886 crores for the twelve months ended March 31, 2026.

    We have delivered a resilient fiscal 2026 amidst an adverse policy in a salient state.”-Mr. Praveen Someshwar, CEO & MD.

    PHOTO CREDIT-JLR

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    Global health gains face threat of reversal .

    Roche receives CE mark for new blood test to detect Alzheimer’s pathology: Elecsys® plasma phosphorylated-tau 217 (pTau217).

    DKMS Foundation India brings together changemakers and medical leaders at the Lifesaver Honours Night in Bengaluru to support blood cancer patients

    DKMS Foundation Hosts ‘Lifesaver Honours Night’ to Celebrate Changemakers in the Fight Against Blood Cancer.

    DKMS Foundation India Launches Free HLA Typing for Children with Thalassaemia.

    Dr. Mansukh Mandaviya to inaugurate 100-bedded ESIC Hospital at Doddaballapur, Karnataka on 3rd May

    Strengthening healthcare infrastructure is essential -Dinesh Gundu Rao,Minister for Health & Family Welfare.

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    AI-Powered Financial Inclusion in India

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    The AI Reckoning: 73% of Executives Report Underwhelming ROI from AI Efforts as Focus Shifts from Hype to High-Stakes Pressure Testing

    Roche receives CE mark for new blood test to detect Alzheimer’s pathology: Elecsys® plasma phosphorylated-tau 217 (pTau217).

    India’s AI Boom Faces Reality Check as ROI and Governance Lag: ISACA Report.

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    9th Edition of Save Water Cup 2026 Inaugurated at Gopalan Cricket Ground.

    CREDIT-IBM

    IBM Launches Sports Tech Startup Challenge at Web Summit Vancouver .

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    Actor Dr. Rajkumar’s 97th birthday celebration on April 24th, at 10.30 am in Dr. Rajkumar Punyabhoomi premises of the Sri Kanteerava Studio .

    Doordarshan Chandana has launched an innovative farmers’ reality show named “Raitaratna” (ರೈತರತ್ನ).

    Phoenix Marketcity brings you a legendary live concert by PADMA BHUSHAN KS CHITRA.

    UNDP Goodwill Ambassador and ‘Game of Thrones’ star Nikolaj Coster-Waldau highlights Odisha’s mangrove restoration story in global documentary series

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    “Virgin Boys” – A Bold Telugu Youth Drama Captures Hearts Across Theatres

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    Air India rationalises international route network through August 2026, to continue operating 1,200+ international flights every month .

    Roche receives CE mark for new blood test to detect Alzheimer’s pathology: Elecsys® plasma phosphorylated-tau 217 (pTau217).

    DKMS Foundation India brings together changemakers and medical leaders at the Lifesaver Honours Night in Bengaluru to support blood cancer patients

    DKMS Foundation Hosts ‘Lifesaver Honours Night’ to Celebrate Changemakers in the Fight Against Blood Cancer.

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    D2C Nutrition Brand Beast Life Launches World’s First Clinically Studied Nano Creatine ‘Creatine Nano 400’; Targets ₹500 Crore ARR in Next 3 Years

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Contracts Worth $1.7 Billion Awarded for ADB-Funded Malolos–Clark Railway Project

FWM by FWM
October 9, 2020
in Business
0

MANILA, PHILIPPINES (8 October 2020) — Construction of the Malolos–Clark Railway Project, a flagship Philippine project funded by the is expected to begin soon, following the signing of three civil works contracts worth more than $1.7 billion.

The signing ceremony today was hosted by the Philippines’ Department of Transportation (DOTr), which has so far awarded five civil works contracts for the project totaling $2.5 billion. The first two contracts were signed on 1 August 2020. The project, part of the government’s “Build, Build, Build” infrastructure program, will construct a safe, affordable, reliable, and environment-friendly elevated railway connecting the northern provinces and the capital, Metro Manila.

“This project is, by far, the ADB’s largest ever financing package for a single project, and is the single largest ‘Build, Build, Build’ project to date in the history of the Duterte administration,” said Department of Transportation Secretary Arthur Tugade. “Be assured that we are focused on our goal to make the Filipino life comfortable, the Filipino life convenient.”

“The signing of these contracts means the Malolos–Clark Railway Project construction will now go on full speed, helping the country’s economic revival over the next 12–24 months,” said ADB Director General for Southeast Asia Ramesh Subramaniam. “When completed by 2025 based on current plans, we expect the project to benefit nearly 350,000 commuters daily. We are proud to work with the Philippine government, development partners, and the private sector to deliver this important flagship infrastructure project using modern technology for the country.”

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The Malolos–Clark Railway Project will cut the travel time between Clark in northern Pampanga province and Manila from two to three hours by bus to one hour by train, with a maximum rail speed of up to 160 kilometers (km) per hour. It will reduce greenhouse gas emissions by more than 60,000 tons annually and boost economic activity in regional growth centers like Clark.

The project is expected to create about 24,000 local construction jobs in the next three years. Once completed, the railway system will employ 1,400 people. The project will also spur larger, indirect employment and economic benefits to local businesses and raw material suppliers and manufacturers.

The project is part of the planned 163-km North–South Commuter Railway (NSCR) Project, which aims to reduce road congestion in Metro Manila and surrounding provinces. It will also help cut traffic-related economic costs, which total about $18 billion annually in Metro Manila alone. Once completed by 2040, the entire NSCR is expected to transport up to 1 million passengers daily.

The first contract package of the Malolos–Clark railway line—covering the construction of about 17 km of elevated rail viaduct, seven bridges, and two railway stations—was awarded to the joint venture of Hyundai Engineering & Construction Co., Ltd. and Dong-ah Geological Engineering Company Ltd., both based in the Republic of Korea, and the Philippines’ Megawide Construction Corporation.

Spain’s Acciona Construction Philippines, Inc. and Daelim Industrial Co., Ltd. won the second contract package, covering the building and civil engineering works for about 16 kms of viaducts and one railway station. The third contract package, for the building and civil engineering works for 12 kms of viaducts and two railway stations, was awarded to Italian–Thai Development Public Company Limited.

The other two contract packages were awarded in August to a joint venture of Acciona Construction Philippines, Inc. and EEI Corporation, and the Republic of Korea’s POSCO Engineering and Construction Co., Ltd. A sixth contract for the construction of the Blumentritt station of the railway line will undergo rebidding.

The project is cofinanced by the Japan International Cooperation Agency, which will provide up to $2 billion in additional funding for the rolling stock and railway systems.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

FWM

FWM

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