Bohol Gov. Aris Aumentado announced that funds for a major infrastructure project in the province have been secured.

With the funding secured, Aumentado said bidding for the third bridge connecting Panglao to Bohol mainland will start, marking the start of the initial works for the project’s completion.

“This is a breakthrough for Bohol. The Panglao-Tagbilaran Offshore Connector Bridge will significantly ease travel, boost tourism, and stimulate economic growth. We thank DPWH (Department of Public Works and Highways) for this long-awaited development," Aumentado said after his meeting with DPWH Undersecretary Ador Canlas.

Based on documents available at the DPWH website, the Panglao-Tagbilaran City Offshore Bridge Connector (PTCOBC) is financed by the French government through a preferential loan facility, with shortlisted French contractors – such as Freyssinet, Matiere SAS, and Gagne SA – participating in a limited competitive bidding process.

The prequalified companies were recommended by the French Ministry of Commerce, pursuant to the bilateral arrangements on the utilization of the preferential/concessional loan between the countries, under a design-and-build scheme.

The project will require eligible bidders to have completed similar design-and-build infrastructure equivalent to at least 50 percent of the approved budget for the contract, which totals P7.15 billion.

To date, the bridge approaches in the municipality of Dauis and Tagbilaran City have been completed.

With a contract duration of 36 months, the PTCOBC is a 1.03-kilometer, four-lane cable-stayed bridge modeled after the Cebu-Cordova Link Expressway.

The infrastructure will serve as an alternative route to the existing Jacinto Borja Bridge (Junction) and Ambassador Suarez Bridge (Causeway).