Monday, October 20, 2014

NEDA Board approves 12 new projects

The National Economic and Development Authority (NEDA) Board approved 12 new infrastructure projects in a meeting chaired by President Benigno S. Aquino III.

These projects include the Flood Risk Management Project for Cagayan De Oro River; Sen. Gil Puyat Avenue/Makati Avenue-Paseo de Roxas Vehicles Underpass Project; Metro Manila Interchange Construction Project, Phase VI; Restoration of Damaged Bridges in Bohol; Operations, Maintenance and Development Project of the Iloilo, Bacolod, Davao, and Puerto Princesa airports; Regional Prison Facilities through Public-Private Partnership Project; Davao Sasa Port Modernization Project; Fisheries, Coastal Resources and Livelihood Project; and Project Convergence on Value Chain Enhancement for Growth and Empowerment

“These approved projects will significantly contribute to the infrastructure investment needed to sustain growth and make it inclusive. The projects will allow Filipinos to have more access to social and economic opportunities. The transportation and port projects will improve the mobility of people and the efficiency of the flow of goods and services.

Also, some of these projects will instill or enhance resiliency of many areas against climate-related risks and disasters,” according to Economic Planning Secretary Arsenio M. Balisacan.

Meanwhile, the project to construct and maintain regional prison facilities proposed by the Department of Justice will accommodate 26,000 inmates, as part of the government’s goal to decongest and upgrade prison facilities.

Also approved by the NEDA Board was the loan validity, downscaling of scope and reallocation of project costs, in effect reducing the total cost of the ongoing Laguindingan Airport Development Project. The 18-month loan extension for its Air Navigation System and Support Facilities was moved to January 10, 2016 from July 10, 2014. The cost reallocation effectively decreased the total cost to PhP7.70 billion from PhP7.85 billion. The approval, however, was conditioned on a change in specifications to be confirmed by the DPWH.

Moreover, the NEDA Board approved the Department of Public Works and Highways’ (DPWH) request that the Laguna Lakeshore Expressway-Dike Project may proceed under a hybrid contractual arrangement pursuant to Section 2.9 of the Revised Implementing Rules and Regulations of the Build-Operate-Transfer Law.

The Board also amended the approval on the requirement of a Department of Justice 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. (NEDA)

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