NEDA Approves ₱48 Billion Infra Projects in Luzon

The National Economic and Development Authority (NEDA)-Investment Coordination Committee (ICC) has approved two major infrastructure projects with a combined project cost of approximately P48.12 billion.

The ICC, which is among the seven inter-agency committees of the NEDA Board, evaluates the fiscal, monetary and balance-of-payments implications of major national projects.

In a statement, the ICC said it approved the 47.018-kilometer, Cavite-Laguna Expressway (CALAX) project and the Bicol International Airport Project.

The CALAX project, with an estimated project cost of ₱43.319 billion, involves the financing, design and construction of a new four-lane expressway that stretches from the end of Cavite Expressway in Kawit, Cavite to Mamplasan Interchange of the South Luzon Expressway in Biñan, Laguna.

Socioeconomic Planning Secretary Arsenio M. Balisacan said the project would partly be financed 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.

"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," Balicasan added.

Meanwhile, the Bicol International Airport Project, with a project cost of ₱4.799 billion, involves the construction of a new domestic – principal Class 1 airport of international standards in Daraga, Albay. It will replace the existing Legazpi Airport due to the latter's limitations and safety concerns.

Balisacan said the project would improve safety and efficiency of aircraft operations. The construction of a new airport in Albay would meet international standards and practices, as well as enhance the accessibility of tourism destinations in the Bicol region.

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 project would source its funding from the Department of Transportation and Communication (DOTC) budget.

PhilSTAR

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