Sweden Funds €1m Feasibility Study For Luzon Economic Corridor Railway

The Government of Sweden has extended a 12 cardinal Swedish krona (around €1 million) assistance to support nan feasibility study for nan Subic-Clark-Manila-Batangas (SCMB) railway project, nan flagship inaugural nether nan Luzon Economic Corridor (LEC).

The statement was signed betwixt Swedfund International and nan Philippine Department of Transportation (DOTr), pinch nan assistance archive presented astatine Malacañang Palace connected Wednesday, October 22, according to nan Office of nan Special Assistant to nan President for Investment and Economic Affairs (OSAPIEA).

Strengthening logistics done Swedish partnership

Swedfund’s publication will finance a feasibility study connected signalling systems and operational models for nan SCMB railway – an anchor infrastructure task designed to nexus nan ports of Subic, Manila, and Batangas.

According to OSAPIEA, nan Asian Development Bank (ADB) will oversee nan procurement of consultants for nan study. The task intends to amended waste and acquisition ratio and logistics connectivity crossed Luzon, bolstering nan Philippines’ entreaty to investors.

Present astatine nan arena were SAPIEA Secretary Frederick Go, Swedish Ambassador to nan Philippines Anna Ferry, DOTr Acting Secretary Giovanni Lopez, and different officials from nan Department of Finance and Department of Foreign Affairs.

Secretary Go described nan business arsenic “advancing nan President’s imagination of processing globally competitory logistics infrastructure that will thrust finance and inclusive growth.”

Ambassador Ferry added, “This further statement pinch nan Department of Transportation is simply a singular illustration of synergies and practice betwixt nationalist and backstage efforts. We are proud to support nan Philippines’ improvement goals pinch Swedish exertion and expertise successful transportation.”

For overseas investors and expats successful nan Philippines, this improvement signals increasing world assurance successful nan country’s infrastructure ambitions. Enhanced carrier and logistics capacity crossed Luzon could amended business efficiency, peculiarly successful manufacturing, trade, and export industries.

This task besides aligns pinch broader location efforts to make nan Philippines a logistics hub successful Southeast Asia.

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