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Event: Reception and Seminar on welcoming Hankyu and JICA to LRT1, and signing Technical Assistance Agreement for operation and maintenance of LRT1
Date: June 26, 2024
Location: Manila, Philippines
Main Participants
Sumitomo Corporation; Hankyu Corporation; Minister and Undersecretary, Philippine Department of Transportation; Undersecretary, Philippine Department of Finance; CEO, Light Rail Manila Corporation; Metro Pacific Investment Corporation; Ayala Corporation; Japanese Ambassador to the Philippines, Mr. Hiroshi Endo, etc.
Contents
On April 25, 2024, JICA and Hankyu Corporation concluded an agreement related to the operation and maintenance of the Manila Light Rail Transit System Line 1 (hereinafter referred to as “LRT Line 1”), an urban passenger railroad connecting north and south in Metro Manila in the Republic of the Philippines. A ceremony for the LRT Line 1 project was held in Manila on June 26, 2024 (Wednesday), attended by Philippine and Japanese government officials and a large number of media, with JICA Director Hatsukaeda, Philippine Office Director Sakamoto and Director Yasumura of the Overseas Investment and Loan Division 1, Private Partnership Department in attendance. At the ceremony, Hankyu Corporation and JICA were welcomed as new shareholders, and a memorandum of understanding on future technical cooperation was signed between Hankyu Corporation, LRMC (the operator of LRT Line 1) and Sumitomo Corporation in the presence of JICA Director Hatsukaeda and other participants. This was the first step toward strengthening the operation and maintenance of the LRT Line 1 with Japanese expertise in railroad operation and maintenance, with the support of JICA.
At the time of signing the Memorandum of Understanding
JICA’s overseas investment and loan program targets projects that contribute to infrastructure, growth acceleration, and the achievement of the SDGs, and has focused on expanding projects that contribute to the infrastructure sector and support Japanese companies. This project is the first overseas investment in railroad operation and maintenance for JICA and Hankyu Corporation, and will encourage Japanese companies to expand their high-quality infrastructure business overseas. JICA has been providing cooperation to the Philippine government for many years in the development of the railroad network in Metro Manila. This project is expected to attract investment from the Japanese private sector and provide a foothold to further improve the convenience of railroads in Metro Manila by utilizing the knowledge and expertise of the private sector.
LRT Line 1
Furthermore, Metro Manila is one of the most congested cities in the ASEAN countries, and the improvement of the public transportation network is an urgent issue.
JICA will continue to encourage Japanese companies to expand their business overseas in further collaboration with various partner organizations and contribute to the achievement of the Sustainable Development Goals SGDs through the overseas deployment of quality infrastructure in developing countries.
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