Roxas, who was sent by President Aquino as special envoy to China, said Manila would just have to pay the loan for the project to Beijing over the next two years.
Roxas said he was able to clear this issue with Chinese Foreign Affairs Vice Minister Fu Ying on Friday after a meeting with Chinese Vice President Xi Jinping.
“There was a discussion as well regarding the process of disengagement in the North Rail contract, and we also talked a little bit about the investment by the Chinese State Grid Corp. (SGCC) in our National Grid Corp. (NGCP) and, well, some of the conflicts that exist therein,” Roxas said.
Roxas conveyed the wishes of the Philippine government for China to transfer operations of NGCP to Filipinos since it is important for the country to have control over its own electricity supply.
Based on the contract, Roxas said the SGCC should transfer its technology to the NGCP and train Filipinos on how to control “our national electric grid.”
For more: http://www.philstar.com/headlines/2012/09/26/852997/phl-china-drop-north-rail