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MANILA - The Cabinet Committee of the National Economic and Development Authority has approved multibillion-peso expressway and airport projects in Luzon.
The NEDA-Cabcom approved the construction of the four-lane Cavite-Laguna Expressway, which will stretch 47.018 kilometers from the end of the Cavite Expressway in Kawit town to the Mamplasan Interchange of the South Luzon Expressway in Biñan, Laguna.
The P43.319 billion project will fall under the government's Public-Private Partnership Program and would receive official development assistance from the Japan International Cooperation Agency. The Department of Public Works and Highways will implement the project.
“The project is consistent with the Philippine Development Plan 2011-2016’s transport sector objective of providing dependable access to production areas such as Cavite and Laguna, being rapidly growing industrial and commercial centers south of Metro Manila,” Socioeconomic Planning Secretary and NEDA Director-General Arsenio M. Balisacan said.
The NEDA-Cabcom also approved the Bicol International Airport Project, which will involve the construction of a new class 1 international airport in Daraga, Albay to replace the existing Legazpi Airport, which is hobbled by safety concerns.
The P4.799 billion project will be financed out of the Department of Transportation and Communication's budget.
“The project aims to improve safety and efficiency of aircraft operations through the construction of a new airport in Albay that meets international standards and practices and enhance the accessibility of tourism destinations in the Bicol Region,” Balisacan said.
The project also involves the construction of landside and airside facilities, passenger and cargo terminal buildings and related facilities/equipment, security and navigational aids equipment, detailed engineering design and land acquisition for the airport compound.
The NEDA-Cabcom also approved the restructuring of the P4.97 billion Bridge Construction/Replacement Project.
The project will benefit from a supplementary loan of 21.25 million euros under the Spanish Export Credit facility of Deutsche Bank S.A.E., and its implementation extended from January 2012 to December 2015.
“This increase in project cost is due to augmented construction costs, additional and supplemental works, among others. Moreover, there will be a modification in the list of bridges covered under the project,” Balisacan said.
The NEDA Cabcom also approved the change in scope, increase in cost and implementation extension of the Saudi Fund for Development-assisted Mindanao Roads Improvement Project.
The project change in scope is due to the expansion in civil works, increasing its cost to P3.91 billion. Project implementation was extended from January 1, 2012 to December 31, 2014.
Other approved requests include the 24-month loan validity extension for the Laguindingan Airport Development Project.
The Korean Export-Import Bank loan for LADP would be extended from June 28, 2012 to June 28, 2014, while the Economic Development Cooperation Fund counterpart from October 25, 2012 from October 25, 2014.
“Also, there will be re-allocation of loan proceeds such as contingencies to cover increase in cost in civil and building works, consulting services and service charge,” Balisacan said.
The project schedule was revised to accommodate activities for the air navigation component of the LADP and completion of civil works. This component is scheduled for completion in September 2013, allowing the airport to become operational by December 2013 at the earliest.
Lastly, the NEDA-Cabcom approved the extension and reallocation of Support for Strategic Local Development and Investment Project of the Land Bank of the Philippines.
The World Bank loan validity period would be extended from June 30, 2012 to June 30, 2014.
This involves the use of foreign exchange differential and reallocation of unused loan funds to other components of the project.
“The endorsement was made with the understanding that LBP will ensure smooth implementation of the SSLDIP through adopting best practices and lessons learned by LGUs in the procurement process, proper monitoring and project progress reporting,” Balisacan said.
Approved on April 26, 2006, the SSLDIP will facilitate access of local government units to viable financing options for construction, upgrading, and rehabilitation of infrastructure that support local revenue enhancement programs.
For this year, 20 out of 100 subprojects will be completed and the remaining 26 subprojects until 2014. Fifty-four subprojects were already completed.
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