Manila, November 14 (Engineering Daily) -- The first regional research and development(R&D) center for Maglev technology transportation is planned to be established in Cagayan Special Economic Zone and Free Port(CSEZFP).
On November 2, the Philippine and Chinese representatives completed their agreement and the Chinese corporations involved in the project are Hunan Goke Maglev Technology Development, Ltd. and Eminova Asset Management, Ltd..
The initial project cost for construction is set at $1 billion and the research center is not confined to Maglev technology transportation but also to being related with electromagnetic vehicle and other new rail transit projects.