Sumitomo weighs new investments in PH rails, renewables

MANILA, Philippines – Japanese conglomerate Sumitomo Corp. is eyeing more investments in the Philippines, particularly in railway and renewable energy projects, as it expands its infrastructure portfolio.

According to the Department of Finance (DOF), Sumitomo is exploring opportunities to operate and maintain the North-South Commuter Railway (NSCR), one of the country’s largest rail projects.

READ: Firms’ interest in north-south railway shows trust in gov’t – DOTr

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The company already holds two NSCR contracts—a P12-billion deal with Japan Transport Engineering Co. (J-TREC) to supply trainsets and a P26.5-billion contract for Sumitomo Mitsui Construction to build the Balagtas, Guiguinto and Malolos stations. It also expressed interest in operating the railway during a pre-bid conference in November.

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The P873.6-billion, 147-kilometer NSCR will slash travel time from Clark to Calamba to 2.5 hours from four.

Sumitomo is also considering more renewable energy investments to support rail operations and strengthen the country’s energy security. It earlier said it planned to expand such investments to support the government’s energy and decarbonization goals.

Finance Secretary Frederick Go and Sumitomo officials led by President and CEO Shingo Ueno discussed the expansion plans.

Go, who also serves as the country’s investment czar, said Sumitomo’s interest reflects its continued confidence in the Philippines.

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READ: Right-of-way acquisition for Angeles segment of NSCR now at 90%

“Sumitomo has long been one of the Philippines’ most valued partners. We look forward to deepening this partnership through strategic investments in infrastructure and other key sectors that will strengthen our competitiveness and support our long-term economic development,” Go said in a statement.

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Sumitomo has worked on Philippine rail projects for more than four decades, including MRT-3 and LRT-1. It now works on four Department of Transportation rail projects, including the MRT-3 Rehabilitation and Maintenance Project, the Metro Manila Subway Project, and two NSCR contract packages. /pai INQ

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