Construction at major state projects set to begin

CONSTRUCTION WORK for at least nine of the 75 key large-scale infrastructure projects of the Duterte administration is set to begin next semester.
Department of Finance (DoF) data show that projects moving to the construction stage include the P4.61-billion Binondo-Intramuros bridge and the P1.37-billion Estrella-Pantaleon Bridge in Metro Manila, both of which are funded by China grants.
The list also includes the China-funded P4.37-billion Chico River Pump Irrigation Project and the P35.26-billion Tagum- Davao-Digos segment of the Mindanao Railway Project.
The Panguil Bay Bridge Project worth P4.86 billion financed by Korea official development assistance (ODA) will also start in the second half of the year, as well as the P1-billion repair of walls and drainage improvement along the Pasig River stretch from Delpan Bridge to Napindan Channel.
There are also three public-private partnership projects ready for construction, namely: the P3.33-billion mixed-income housing center, P1.78-billion government center and P850-million commercial center components of the Clark Green City.
The National Economic and Development Authority (NEDA) said in a separate statement yesterday that its Investment Coordination Committee-Cabinet Committee (ICC-CabCom) has approved the revision of terms of two big-ticket infrastructure projects after its June 14 meeting.
The ICC-CabCom — led by Socioeconomic Planning Secretary Ernesto M. Pernia and Finance Secretary Carlos G. Dominguez III — agreed to extend the loan validity of the Italian government-backed P2.62-billion Agrarian Reform Community Development Support Program from April 2019 to April 2021, as well as its implementation period from December 2018 to December 2020.
According to NEDA, the project “aims to increase and stabilize the income of agrarian reform beneficiaries (ARBs) in Sarangani, Sultan Kudarat, Maguindanao, and Lanao del Sur, along with improving their access to key services through support in infrastructure and agri-enterprise development, local capacity building, and project management.”
The Cabinet-level panel likewise approved the increase of the supplemental loan for the New Bohol Airport Construction and Sustainable Environment Protection project to P2.18 billion from P1.23 billion.
The supplemental loan is from the Japanese government and covers foreign exchange movements, price escalation in the construction of the project and also facilitates start of commercial operations in October 2018.
Construction for the New Bohol Airport has already started costing about P7.77 billion, and is seen to replace the Tagbilaran airport.
In a separate statement, Finance Secretary Carlos G. Dominguez III told members of the Asia Pacific Investors Cooperation network during its meeting in Tokyo yesterday that it is a “good time to build partnerships in the Philippines,” as the government is embarking on its infrastructure program.
“The modernization of our infrastructure and our governance will bring enhanced connectivity to the Philippine economy. They will open many opportunities for the global investment community. I hope that you will examine our ongoing programs and decide to participate in the strong emergence of the Philippine economy,” said Mr. Dominguez.
“It is our desire to see the strategic projects completed at the shortest possible time in order to immediately realize their economic value and lessen unnecessary financing costs,” he added.
The government targets the economy to grow at least seven percent this year from 6.7% in 2017 on the back of sustained increase in public infrastructure spending that will add to robust household expenditures. — Elijah Joseph C. Tubayan