The Japanese conglomerate, Sumitomo Corp., is seeking to expand its investments in Philippine energy infrastructure and railway projects, including the North-South Commuter Railway (NSCR).
The company is looking to play a role in the operations and maintenance of the NSCR, a 147-kilometer line that is expected to boost mobility and economic activity across Luzon.
The project, which is expected to be fully operational by late 2031 or early 2032, is facing right-of-way issues that are delaying the construction of northern segments of the NSCR.
Sumitomo is also exploring potential investments in renewable energy to support railway operations and bolster overall energy security, according to the Department of Finance.
Finance Secretary Frederick D. Go welcomed the expansion of the partnership with Sumitomo, saying that the government looks forward to deepening this partnership through strategic investments in infrastructure and other key sectors.
Sumitomo is currently involved in four key railway projects, including the Metro Rail Transit-3 Rehabilitation and Maintenance Project and the Metro Manila Subway Project.
The group has also contributed to the development of MRT-3 and the Light Rail Transit Line 1, demonstrating its commitment to the country's infrastructure development.
The Department of Finance stated that Sumitomo's continued interest in expanding its investments in the Philippines reflects growing confidence in the country's infrastructure pipeline.
