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Philippines launches major projects for bidding

Philippines launches major projects for bidding

The Philippines has launched the first batch of major infrastructure projects it is opening for partnership with private investors.
It is asking for bids for five rail and road projects worth over $1 billion.
President Benigno Aquino III says the projects will stimulate the economy, create thousand of jobs and upgrade services for Filipinos.
Officials say the bidding process begins later this month for two railway expansion projects in the capital. Invitations to bid will be out in April for a new toll road south of Manila, in May for an airport expressway and in June for an elevated expressway.
A lack of infrastructure is among the factors that have held back Philippine economic growth.