The Calamba to Lucena route of the Southrail project is up for signing with Chinese Premier Wen Jiabao in December, he pointed out.
Neri said the $200-million project linking Calamba, Laguna and Lucena, Quezon will involve the rehabilitation of railroads and the purchase of electric and diesel trains.
For the Caloocan to Alabang and Alabang to Calamba routes, Neri said the National Government is in talks with the South Korean government for possible financing assistance.
Neri said they are still waiting for the feasibility study which is expected to be submitted within the week.
"Eventually, the next phase will be up to Bicol," he said.
Meanwhile, the Bulacan-Pampanga route of the counterpart Northrail project will finally be completed after NEDA approved the $673.66 million project.
In a statement, NEDA said it has endorsed the second part of Northrail’s first phase, which is 48-kilometer double narrow-gauged rail track plying the towns of Malolos and Calumpit in Bulacan and Apalit, Minalin, Sto. Tomas, San Fernando, Angeles and Clarkfield in Pampanga.
The railroad project includes civil and track works, signaling, communications and ticketing systems, procurement of rolling stock and right-of-way acquisition.
NEDA said 83 percent of the project will be financed through official development assistance (ODA) under the Chinese concessional loan, while the rest will come from local and foreign commercial loans.