Philippines in talks with MTR Corp over railway project

MTR Corporation is in early talks over a railway project in the Philippines, where local authorities are planning a brand-new metropolis estimated to cost US$14 billion to ease congestion in the capital Manila, one of the most densely populated cities in the world.

Officials from the Philippines' Bases Conversion and Development Authority (BCDA) visited MTR Corp's office in Hong Kong on February 12 and presented the project to the city's sole rail operator, according to BCDA president and chief executive Arnel Paciano Casanova.

"We are exploring possible collaboration, but no commitment was made by either side," Casanova told the South China Morning Post.

When contacted by the Post, MTR Corp said: "Many railways and cities from around the world have shown interest in our operating and financial model. However, we have no plans at present to invest in any projects in the Philippines."

Casanova said the government was looking for a partner in the private sector to take up a majority stake and drive the project. "We are looking for partners who can bring in technical and financial capabilities. We will only be there to ensure the infrastructure vision is achieved."

The planned railway will be one of the many infrastructure projects in Clark Green City, a 9,450-hectare development envisioned to be the Philippines' first "smart, green and disaster-resilient metropolis" and site of the former US Clark Airbase forced to shut down during the eruption of Mount Pinatubo volcano in 1991.