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Neda approves 6 PPP infra projects worth P165.6B

/ 01:04 AM October 20, 2014

The government recently approved the roll-out of 12 projects worth a total of P184.41 billion, on top of the adjustments on concessions for two previously approved public-private partnership (PPP) projects.

Last Friday alone, the National Economic and Development Authority (Neda) Board last Friday cleared the way for the construction of six additional PPP projects worth P165.63 billion that would address the country’s infrastructure lack.

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During the Neda Board meeting chaired by President Benigno Aquino III, the following PPP projects were approved: The operation and maintenance, as well as development of the airports in the cities of Bacolod (worth P20.26 billion), Davao (P40.57 billion), Iloilo (P30.4 billion) and Puerto Princesa (P5.23 billion); the P18.99-billion modernization of the Davao Sasa Port; and the P50.18-billion Regional Prison Facilities project of the Bureau of Corrections under the Department of Justice (DOJ).

The Neda Board also approved the extended loan validity, downscaled the scope, and reduced total cost of the Laguindingan Airport development in Misamis Oriental.

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“The 18-month loan extension for [the Laguindingan Airport’s] air navigation system and support facilities was moved to Jan. 10, 2016 from July 10, 2014. The cost reallocation effectively decreased the total cost to P7.70 billion from P7.85 billion. The approval, however, was conditioned on a change in specifications to be confirmed by the DPWH (Department of Public Works and Highways),” the Neda said in a statement.

Also approved was the request of the DPWH to proceed with the P122.81-billion Laguna Lakeshore Expressway-Dike project under a “hybrid contractual arrangement pursuant to Section 2.9 of the Revised Implementing Rules and Regulations of the Build-Operate-Transfer Law.”

“The [Neda] Board also amended the approval on the requirement of a [DOJ] opinion regarding the delineation of the jurisdictions of Laguna Lake Development Authority and the Philippine Reclamation Authority over the reclaimed land of the project areas,” the agency added.

Other infrastructure projects given the go-signal were the P1.27-billion Senator Gil Puyat [Buendia] Avenue-Makati Avenue-Paseo de Roxas vehicles underpass; the sixth phase of the Metro Manila Interchange project worth P4.01 billion; the P0.81-billion restoration of damaged bridges along the Bohol Circumferential Road; the P8.55-billion flood risk management for Cagayan De Oro River; the P1.86-billion fisheries, coastal resources and livelihood project under the Department of Agriculture; and the Department of Agrarian Reforms’ P2.28-billion project convergence on value chain enhancement for growth and empowerment.

According to the Neda, a separate P11.87-million financing has been secured from Ayala Land Inc. to cover the engineering cost for a four-lane vehicle underpass in Makati’s business district starting this year until 2016.

Also, the government plans to secure official development assistance (ODA) funding for the construction over a four-year period starting 2015 of three interchanges at the following intersections in Metro Manila: Edsa-North Avenue-West Avenue-Mindanao Avenue; Circumferential Road 5 (C5)-Greenmeadows-Calle Industria-Eastwood; and Edsa-Roosevelt Avenue-Congressional Avenue.

The flood mitigation project at the Cagayan de Oro River would start in October next year and is expected to be completed by March 2022 through ODA financing.

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The ODA-funded reconstruction of 14 bridges in Bohol that were damaged by last year’s 7.2-magnitude earthquake would start next year.

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