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