NEDA-ICC approves Metro subway, 2 other projects

The National Economic and Development Authority (NEDA) Board’s Investment Coordination Committee-Cabinet Committee (ICC-CC) approved the Metro Manila Subway Project (MMSP)-phase one and two other projects.

The ICC-CC approved the MMSP I, which will run from Mindanao Avenue in Quezon City and, following the ICC-CC’s directive, will terminate at the Ninoy Aquino International Airport (NAIA) in Parañaque City.

The initial investment requirement is estimated at R355.6 billion, which will involve the construction of a 28-hectare training center and depot, as well as and other related facilities. Implementation period is from 2018 to mid-2025.

“The first phase of the MMSP will not only ease traffic in Metro Manila but also improve the quality of life of Filipinos. For one, carbon emissions will be reduced,” Socioeconomic Planning Secretary Ernesto M. Pernia said in a statement.

“And, with greater mobility, people can spend more time on things that matter to them,” he added.

The ICC-CC likewise approved, the proposal of the Bases Conversion and Development Authority (BCDA) to adopt the Build-Transfer scheme under the amended BOT law, as mode of implementation for the construction of the Clark International Airport facility.

The project involves the construction of an 82,600 square meter terminal building, with a design capacity of 8 million passengers per annum.

As earlier approved by the ICC in May, the Clark International Airport Expansion Project has an estimated total project cost of R15.35 billion, with R2.8 billion sourced from the DOTr budget for pre-construction activities, while the remaining investment requirement of R12.55 billion will be provided by the BCDA.