ICC green lights P57.5B more infra programs

 - Business Mirror
 
https://ppp.gov.ph/in_the_news/icc-green-lights-p57-5b-more-infra-programs/ 
 

The Investment Coordination Committee (ICC) has approved six new big-ticket projects costing a combined P57.494 billion to improve the road system and mobilize the financial resources of local government units (LGUs) in the Mindanao area, among others.

According to Finance Secretary Carlos G. Dominguez III, who chairs the ICC, the largest of the approved projects amounted to P21.194 billion and will fund the upgrading of seven gravel roads totaling 236.5 kilometers and one 40-km road segment providing more direct routes and open areas for development in Mindanao.

A project facilitation, monitoring and innovation task force was approved and created by the ICC-Cabinet Committee to monitor the government’s top 75 flagship projects worth an estimated P14.989 billion.

Dominguez added the ICC-Cabinet Committee also approved a P7.919-billion infrastructure preparation and innovation facility that will support project development and implementation of key infrastructure projects.

The facility will cover: feasibility assessment and studies; detailed engineering design; preparation of procurement documents; and due diligence reviews.

To mobilize financial resources for the LGUs and micro, small and medium enterprises in Mindanao, the committee also gave the go signal to the P1.519-billion Conflict Sensitive Resource and Asset Management Program–Financial Cooperation Measure project that will be administered by the Land Bank of the Philippines (LandBank).

The ICC has also approved the procurement of seven maritime disaster-response helicopters to strengthen and expand the Philippine Coast Guard’s capability to respond to maritime incidents during natural calamities.

The procurement plan involves the training of pilots and technical crew; purchase mission equipment, maintenance tools and spare parts; construction of hangars; and project management, costing an estimated P5.887 billion.

Earlier, the Cabinet Committee, to help ease traffic congestion in Metro Manila, approved the construction of the P4.607-billion Binondo-Intramuros Bridge and the P1.376-billion Estrella-Pantaleon Bridge.

The Binondo-Intramuros Bridge will involve the construction of a steel bowstring-arch bridge with intersecting reclining arches supporting a four-lane deck of about 725 linear meters to connect Intramuros and Binondo with a viaduct over the creek adjacent to the Muelle de Binondo in Manila.

The existing two-lane Estrella-Pantaleon Bridge will also be expanded to four lanes to increase the road-network capacity connecting Makati City at Rockwell Center and Mandaluyong City.

In June the ICC submitted for approval of President Duterte around four transportation and flood-control projects with total combined cost of P541.58 billion.

The projects include: the P35.26-billion Mindanao Railway Project, which connects Tagum, Davao and Digos; the P285-billion North South Railway Project; the P211.43-billion Malolos-Clark Railway Project; and the P9.89-billion Cavite Industrial Area Flood Risk Management Project.

By Rea Cu

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