Sumitomo Corp. is looking to expand its investments in Philippine energy infrastructure and railway projects, including the North-South Commuter Railway (NSCR), the Department of Finance (DoF) said. In a statement on Tuesday, the DoF said the Japanese conglomerate is looking to play a role in the operations and maintenance of the NSCR. The news was first reported by BusinessWorld.
The NSCR is a major railway project connecting Metro Manila to neighboring provinces. Sumitomo's interest in operations and maintenance could bring technical expertise and investment to the project. The company is also exploring opportunities in the energy sector, particularly in renewable energy and natural gas.
The DoF statement highlighted Sumitomo's long history in the Philippines, including involvement in previous infrastructure projects. The expansion plans align with the government's infrastructure development goals under the "Build, Better, More" program. Further details on the investment scope and timeline were not immediately disclosed.