PHILIPPINE REAL ESTATE and RELATED NEWS in and around the country . . .
.
.

NEDA okays 3 infra projects worth P33 B

By Ted P. Torres
Wednesday, July 23, 2008 [ philstar.com ]

The National Economic and Development Authority (NEDA) has approved three infrastructure projects worth a combined P33.165 billion.

The projects involve the Tulay ng Pangulo Para Sa Kaunlarang Pang-Agraryo Project, the proposed increase in costs of the Arterial Road Links Development Project (ARLDP) IV and the Cordillera Road Improvement Project (CRIP) P205, and the proposed increase in cost and change in scope of the Arterial Road Links Development Project (ARLDP) V.

The P16.165-billion Tulay ng Pangulo project involves the construction, installation and establishment of 418 bridges in areas covered by the Comprehensive Agrarian Reform Program (CARP) and in priority Agrarian Reform Communities (ARCs).

About 89 percent or P14.447 billion of the total project cost willl be financed through a commercial loan with Banque Nationale de Paris Paribas through a combination of French export credit while the Philippine government will shoulder the remaining 11 percent or P1.718 billion.

This project will be implemented over a five-year period starting next quarter to 2012. About five ARC bridges will also be built this year. The Department of Agrarian Reform (DAR) is the executing agency for the project.

“DAR is responsible for the selection and prioritization of the ARC bridge sites, which will be subjected to economic viability analysis, and will be recommended to the President for approval. The Department of Public Works and Highways (DPWH) will undertake construction and installation,” NEDA said in a statement.

The proposed cost increase of the ARLDP IV and CRIP as well as the cost increase and scope adjustment of ARLDP V was made by the DPWH.

Its proposal was an increase in the cost of ARLDP IV by 53.6 percent from P6.141 billion to P9.434 billion and CRIP by 33.8 percent from P2.294 billion to P3.069 billion.

The agency also proposed an increase in the cost of the ARLDP V by 17 percent from P3.950 billion to P4.621 billion as well as an adjustment in scope reducing the seven contract packages to six.

The three road projects incurred a cost increase amounting to P4.7 billion. The increases were due to higher bid results compared to the approved budget for contract (ABC), among others.

___________________________________________________________________

real estate central philippines
Copyright ©2008-2017