ICC approves 12 infra projects

Published December 21, 2019, 12:00 AM

by manilabulletin_admin

By CHINO S. LEYCO

The National Economic and Development Authority (NEDA) Board’s Investment Coordination Committee (ICC) approved yesterday additional infrastructure projects for key cities across the country.

Following the examination of the economic as well as financial viability and benefits of these new projects submitted for NEDA-ICC’s considerations, members of the Cabinet Committee gave their greenlight for the implementation of 12 infrastructure projects.

The approved projects include the unsolicited operate-add-transfer (OAT) proposals from the Dennis Uy-led Chelsea Logistics for the Davao International Airport and Aboitiz InfraCapital, Inc. for the Laguindingan Airport.

The NEDA-ICC also gave its signal to proceed to the MRT-4 project, which will be co-financed by the Manila-based Asian Development Bank (ADB).

Once completed, the railway system, which is among the infrastructure projects to be financed under the ADB’s new six-year country partnership strategy for the Philippines, will run between Ortigas district and Rizal province.
Another ADB funded project called EDSA Greenways was also greenlit by the NEDA-ICC.

EDSA Greenways is an elevated five kilometer walkway connected to railway stations in four areas. The project also includes the construction of new footbridges, replacement or widening of existing footbridges.

The Japanese-funded Maritime Safety Enhancement Program, the Bataan-Cavite Interlink Bridge (BCIB) project as well as Cebu-Mactan Bridge and Coastal Road Construction project were approved by the NEDA-ICC.

Likewise, the Davao City Coastal Bypass Road, including Bucana Bridge project, Capas-Botolan Road project, Panay-Guimaras-Negros Island Bridges project, Davao City Bypass Construction project and Samar-Pacific Coastal Road project were also approved.

“The Duterte administration will continue to ensure that all projects are implemented on time and on budget,” the NEDA-ICC said in a statement.
“We remain on track in achieving our target of accelerating infrastructure spending to seven percent of GDP [gross domestic product] by 2022,” the committee added.

Last month, the Duterte administration revised priority infrastructure projects from 75 under the “Build, Build, Build” program, to 100 projects that collectively valued at ₱4.2 trillion and consisted of transport, railways, bridges, highways, power, urban development and water projects.

 
CLICK HERE TO SIGN-UP
 

YOU MAY ALSO LIKE

["business","business"]
[951502,3007671,3007432,3007465,3007398,3007302,3007256]