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The National Economic and Development Authority Board approved the terms for the Bohol-Panglao and Laguindingan international airport projects
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It also approved expansion of the Laguna Lakeshore Road Network Project
The National Economic and Development Authority (NEDA) Board approved terms for the Bohol-Panglao International Airport Project and Laguindingan International Airport Project as well as key changes to Laguna Lakeshore Road Network (LLRN) Project.
During its meeting on July 15, the Board, chaired by President Ferdinand Marcos Jr., green lit modifications to Phase 1 scope of the LLRN Project. It now includes the development of connecting roads and interchanges in various locations. These locations encompass Barangay Tunasan in Muntinlupa City, as well as San Pedro, Biñan, and Cabuyao in Laguna, NEDA said in a statement.
Initially approved in 2021, the project entails construction of a 37.5-kilometer primary road and a 12 km viaduct from Lower Bicutan, Taguig, to Tunasan, Muntinlupa, along with a 25.5 km shoreline viaduct and embankment from Tunasan, Muntinlupa, to Calamba, Laguna.
The second phase of the LLRN Project, which will traverse the eastern portion of Laguna Lake from Binangonan, Rizal, to Calamba, Laguna, is currently under feasibility study and is slated for completion by December 2024. The project will have an approximate mainline total length of 71.5 km.
Upon its completion in 2027, the LLRN Project is expected to stimulate economic activity in the National Capital Region, CALABARZON (Cavite, Laguna, Batangas, Rizal and Quezon), and Central Luzon.
The NEDA Board also approved the negotiated parameters, terms, and conditions (PTCs) for the Bohol- Panglao International Airport Project and changes to the NEDA Board-approved negotiated PTCs for the Laguindingan International Airport Project.
NEDA said the approved PTCs for the upgrade of the Bohol-Panglao International Airport aim to resolve ambiguities in compliance with the recently enacted Public-Private Partnership (PPP) Code, which came into effect after the airport project was approved.
READ: NEDA Board oks P269.7B projects, including Bohol airport expansion
With a total cost of P4.5 billion, the airport expansion project aims to increase the maximum passenger throughput from two million to at least 2.5 million passengers per year at the project’s start and to at least 3.9 million by the end of the project.
Concurrently, the NEDA Board approved changes to its approved negotiated PTCs for the upgrade and expansion of the Laguindingan International Airport in Misamis Oriental, following deliberations at the Cabinet Committee of the Investment Coordination Committee. These include guidelines for the adjustment of the passenger service charge, which will be contingent upon achieving the set key performance indicators and minimum performance standards and specifications for operation and maintenance during the concession period.
READ: NEDA Board approves terms for P12.75B Laguindingan airport project
With a total cost of P12.75 billion, the project entails upgrading the existing facilities, capacity augmentation, installation of required equipment, enhancement of airside facilities, and comprehensive operations and maintenance services. The project is expected to improve the airport’s capabilities significantly, ensuring it meets the growing demands of Northern Mindanao over the years.
Moreover, the Board has approved an additional $30 million loan to support the Project Development and Monitoring Facility (PDMF).
The PDMF provides a project preparation facility for implementing agencies to undertake pre-investment activities, such as developing feasibility studies for potential PPP projects and engaging high-quality transaction advisors. The facility will provide support throughout the preparation, development, approval, procurement, coordination, and monitoring of various PPP projects.
“As we strive to expand private sector participation in our infrastructure projects, this additional support for the Project Monitoring and Development Facility will ensure that our PPP undertakings are meticulously planned and executed to the highest standards. It will also guarantee continued access to international sources of innovation, expertise, advice, and best practices in the development and implementation of PPP projects,” said NEDA director general Arsenio Balisacan, who also serves as the NEDA Board vice chairperson.
