Cabinet panel approves P18 Billion projects for 2019

THE interagency Investment Coordination Committee (ICC)-Cabinet Committee (Cabcom) confirmed P17.94 billion worth of new projects in its last meeting for the year.

In a statement, the National Economic and Development Authority (Neda), which serves as the ICC Secretariat, approved the P14.07-billion Regional Fish Port Project for the Greater Capital Region (GCR) of the Department of Agriculture-Philippine Fisheries Development Authority and the P3.87-billion Philippines-Korea Project Preparation Facility (PK-PPF) of the Department of Finance.

The Neda said the ICC-Cabcom also confirmed scope and cost changes for two Mindanao-based projects and the Rate of Return for one public-private partnership (PPP) project.

The Regional Fish Port Project for GCR will rehabilitate and upgrade the Navotas Fish Port Complex (NFPC) to serve the present and future demands of the GCR.

“By providing the needed postharvest facilities, services and logistics, the project will facilitate access of fishermen to value chains [fish, processor and exporters],” the Neda said. The ICC-Cabcom also confirmed the PK-PPF, which aims to support the efficient and timely implementation of the projects under the “Build, Build, Build” program.

The Neda said the facility will be focused on priority projects of the National Irrigation Administration and Department of Public Works and Highways (DPWH), through the conduct of project preparatory activities.

“The facility will also be open to other agencies that need immediate support in project preparation and packaging,” the Neda said.

Meanwhile, the ICC reconfirmed its earlier approval of the DPWH’s Road Network Development Project in Conflict-Affected Areas in Mindanao (RNDP-CAAM) with a total project cost of P12.86 billion.

The ICC also approved the change in scope and increase in the cost of the Reconstruction and Development Plan for a Greater Marawi-Stage 2, also of DPWH.

The change in scope includes the construction of the expanded MarawiTranscentral Road (MTR) Phase 4 with a length of 20.68 kilometers.

The changes included the construction/rehabilitation of the three vital-link bridges located in the same area. The updated project cost is P6.84 billion as a result of the change in scope.

The ICC-CabCom also confirmed the reasonable rate of return submitted by the lone complying bidder of the Clark International Airport (CIA) Expansion Project—O&M PPP Concession of the Bases Conversion and Development Authority.

This is pursuant to Republic Act 6957, as amended by RA 7718, or the build-operate-transfer law. (Business Mirror)