Two projects up for NEDA Board OK
Credit to Author: MAYVELIN U. CARABALLO, TMT| Date: Thu, 20 Dec 2018 17:35:10 +0000
Economic managers have greenlighted two projects worth a combined P17.87 billion and applied changes to a previously-approved deal, the National Economic and Development Authority (NEDA) said on Thursday.
Approved by the Investment Coordination Committee-Cabinet Committee (ICC-CabCom) on Wednesday was the P14.07-billion Regional Fish Port Project for the Greater Capital Region (GCR), which will be implemented by the Department of Agriculture and the Philippine Fisheries Development Authority.
It involves the rehabilitation and upgrade of the Navotas Fish Port Complex to serve the GCR’s present and future demands.
Also approved was the P3.87-billion Road Network Development Project in Conflict-affected Areas in Mindanao that involves building, rehabilitating and improving 178.43 kilometers or roads in the Autonomous Region in Muslim Mindanao and neighboring areas.
Both projects will now be forwarded to the NEDA Board for approval.
Moreover, the ICC-CabCom also accepted proposed changes to a previously-approved project in Mindanao.
It first affirmed approval of the Department of Public Works and Highway’s (DPWH) Road Network Development Project in Conflict-Affected Areas in Mindanao worth P12.86 billion.
It then accepted a change in scope and increase in cost of the Reconstruction and Development Plan for a Greater Marawi–Stage 2 of the DPWH.
“The change in scope includes the construction of the expanded Marawi Transcentral Road Phase 4 with a length of 20.68 km, as well as the construction/rehabilitation of the three vital-link bridges located in the same area. The updated project cost is P6.84 billion as a result of the change in scope,” the NEDA said.
The ICC-CabCom also confirmed the reasonable rate of return submitted by the lone complying bidder of the Clark International Airport (CIA) Expansion Project – Operations and Maintenance Public-Private Partnership Concession of the Bases Conversion and Development Authority.
“The project will develop the CIA as a major gateway/transport hub in the Northern and Central Luzon regions. It involves the management, operations and maintenance of the existing passenger terminal and the proposed new passenger terminal buildings,” it said.
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