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THE National Economic and Development Authority (Neda) Board has approved a P19-billion road project in Mindanao and four other new flagship projects.
The Improving Growth Corridors in Mindanao Road Sector Project, which will be implemented by the Department of Public Works and Highways, will be financed through a P19-billion loan from the Asian Development Bank.
In a statement, Neda said the project involves the upgrading of seven roads and the widening of a 40-kilometer road segment with slope protection.
It also includes the construction of three Tawi-Tawi bridges, which were conditionally approved.
Construction is set to begin late this year and end in the fourth quarter of 2020, the agency added.
The approval of the new projects brought the administration’s total number of approved projects to 35 worth ?1.2 trillion, excluding the cost of the Tawi-Tawi bridges.
“The approval and eventual completion of these projects will pave the way for us to achieve our midterm and long-term goals as a country and a nation,” said Socioeconomic Planning Secretary Ernesto M. Pernia.
Aside from the Mindanao road project, other new flagship projects are the Metro Manila Subway Project (MMSP), BinondoIntramuros and EstrellaPantaleon Bridges Construction Project, Lower Agno River Irrigation System Improvement Project, and Infrastructure Preparation and Innovation Facility project.
The Neda Board also approved revisions in four projects: the Philippine National Railway-South Line project, increase in cost of the Cebu Bus Rapid Transit Project, ADB loan validity extension for the Road Improvement and Institutional Development Project, and change of mode of implementation for the Clark International Airport Extension Project. (SunStar Philippines)