ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Transportation

Japan's Sumitomo buys 20% stake in Philippine railway for $60m

Trading house aims to ease Manila traffic jams, with more lines expected

A train on Manila Light Rail Transit System Line 1. Sumitomo hopes to improve the safety and convenience of the line, also known as LRT-1. (Photo courtesy of Sumitomo)

TOKYO -- Japanese trading house Sumitomo Corp. has taken a 19.2% interest in a Philippine rail operator for 6.3 billion yen ($58.5 million), drawn by the prospect of new construction to relieve congestion in the Southeast Asian nation's capital.

Sumitomo said Friday it had invested in Light Rail Manila, which operates and maintains a 20 km line connecting the cities of Quezon and Pasay in Metro Manila.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more