Publish Date : 25-Jul-2012
The National Economic and Development Authority (NEDA) Investment Coordination Committee-Cabinet Committee (ICC-CabCom) approved two new transportation projects in its July 12 meeting, and four requests for scope and cost adjustments and loan validity extension for four ongoing government projects in its July 3 meeting.
The ICC-CabCom approved the Cavite-Laguna Expressway (CALAX) project and the Bicol International Airport Project, aiming to improve transportation efficiency in Luzon.
The CALAX Project involves the financing, design and construction of a new four-lane expressway that stretches 47.018 kilometers from the end of Cavite Expressway in Kawit, Cavite to Mamplasan Interchange of the South Luzon Expressway in Bińan, Laguna.
“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 Arsenio M. Balisacan said.
The project, as presently appraised, is estimated to cost PhP43.319 billion and is proposed to be financed partly through public-private partnership (PPP) and partly through Official Development Assistance (ODA) from the Japan International Cooperation Agency (JICA). The Department of Public Works and Highways is the project’s proponent.
Furthermore, the Bicol International Airport Project was also approved, which involves construction of a new domestic - Principal Class 1 airport of international standards in Daraga, Albay to replace the existing Legazpi Airport due to the latter’s limitations and safety concerns.
“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 ICC-approved total cost of the project is PhP4.799 billion that will be sourced from the proponent’s (Department of Transportation and Communication) budget.
Meanwhile, the ICC-CabCom also approved the restructuring of the Bridge Construction/ Replacement Project, whereby the expanded project scope would entail additional works that will augment the total cost to Php4.97 billion. The project will have a supplementary loan of EUR21.25 million under the Spanish Export Credit facility from the Deutsche Bank S.A.E. The implementation period of the project will be extended from January 2012 to December 2015.