NorthRail project to require govt funding until 2028

MANILA, Philippines – The North Luzon Railway project is expected to require government assistance until 2028, a government’s cost analysis paper showed.

The $1.3-billion Northrail project will need an annual average support of $18.28 million until 2028 from the government. And come 2016, the project will post its biggest losses in 2016 at $368.5 million.

“(Our) cashflow analysis shows a negative outstanding cash balance until 2028, which is at its highest at around $368.5 million in 2016,” a document said.

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