^

Business

Government targets completion of 21 flagship infra projects by 2022 ...

Czeriza Valencia - The Philippine Star
Government targets completion of 21 flagship infra projects by 2022 ...
An aide memoire on the status of the flagship projects as of July 31 showed that the remaining 54 projects will be completed beyond 2022, but may commence implementation during the present administration.
Michael Varcas

MANILA, Philippines — Around 21 of the 75 flagship projects under the government’s Build Build Build program can be completed by 2022, documents from the National Economic and Development Authority (NEDA) showed. 

An aide memoire on the status of the flagship projects as of July 31 showed that the remaining 54 projects will be completed beyond 2022, but may commence implementation during the present administration.

As of July, the 75 flagship projects have an indicative total investment requirement of P2.42 trillion. Out of these projects, 52 will be financed via official development assistance (ODA), 14 through government funds, eight projects will be implemented via public-private partnership, and one will be a purely private initiative. 

The aide memoire noted that the total funding requirement for the projects may still change as adjustments in cost and scope may still be implemented. 

Only 37 projects have so far been approved by the Investment Coordination Committee (ICC) and confirmed by the NEDA Board, 28 are pending approval by ICC and NEDA Board, while 10 no longer need approval. Out of these projects that have hurdled the approval process, 21 are seen for completion by 2022. 

Among the projects that are already under implementation, nine are closer to completion by the end of the current administration. 

These include the expansion of the Clark International Airport, the Binondo-Intramuros Bridge, Estrella-Pantaleon Bridge, Bonifacio Global City to Ortigas Center Road Link Project Phase I, Chico River Pump Irrigation Project, Malitubog-Maridagao Irrigation Project Phase II, Clark Green City Government Center, and Clark Green City Mixed-Income Housing. 

Two, on the other hand, have already been completed: the JICA-assisted improvement of the remaining sections along Pasig River from Del pan Bridge to Napindan Channel project; and the government-funded Pulangi 4 Selective Dredging Phase 3 project. 

Meanwhile, seven projects that have already been approved by the NEDA Board have been subjected to re-evaluation by the ICC for changes in scope and cost. 

These include the PNR South Long-haul (Manila-Bicol) Railway, Iloilo International Airport, Bacolod-Silay International Airport, New Bohol International Airport, New Bohol Airport- O&M Concession, Laguindingan International Airport, Davao International Airport, and Mindanao Rail Phase 1 Tagum-Davao-Digos segment. 

Meanwhile, five projects are encountering issues on viability and may be removed from the list of flagship projects, combined with other projects, or replaced by other projects. 

These include the Metro Manila BRT-Phase 3 (BGC-NAIA) segment; Agus 6 Unit 4 Major Rehabilitation Project; Agus 3 Hydroelectric Plant, Metro Manila BRT Line 2 and Sheridan-JP Rizal Bridge. 

The government’s ambitious Build Build Build program is aimed at bridging the yawning infrastructure gap in the country that threatens economic growth and development.

BUILD BUILD BUILD PROGRAM NATIONAL ECONOMIC AND DEVELOPMENT AUTHORITY
Philstar
  • Latest
  • Trending
Latest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

FORGOT PASSWORD?
SIGN IN
or sign in with