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NEDA Board OK’s $150M in project funding

Monday, June 29, 2009 | MANILA, PHILIPPINES [ BusinessWorld Online ]


THE CABINET-LEVEL National Economic and Development Authority (NEDA) Board has approved $150 million worth of projects aimed at improving the country’s railways and the state’s broadcast facilities, documents from Malacañang showed.

These projects are:

* a $125-million increase in cost for the $1.3-billion North Luzon Railway project;

* a $15-million cost increase for phase 1 of the Northrail-Southrail linkage project; and

* a $10-million rehabilitation project of People’s Television Network Inc. (PTNI), which operates the official government television network.

The amount approved for Northrail would fund increasing costs due to approved revisions in the project proposal.

Fresh funds for PTNI will be used to rehabilitate and modernize the present analog broadcast facilities and equipment of the network by supplying, installing and commissioning transmitters in various locations.

Funds for the Northrail-Southrail linkage, which will run from Caloocan to Calamba, Laguna, will be used to cover fencing off the route and construction of Paco Railway station.

The project is composed of two phases — Caloocan to Alabang and Alabang to Calamba.

Also approved during the NEDA board meeting were the proposed change in scope, two-year and nine-month extension of implementation schedule and increase in project cost of the Banaoang Pump Irrigation project, which provides irrigation and drainage facilities to irrigate 6,000 hectares and is expected to benefit an estimated 5,215 farmer households in the municipalities of Bantay, Magsingal, Sto. Domingo, San Vicente, San Ildefonso and Vigan.

A renewable energy and climate change facility, meant to provide medium- to long-term credit, was also okayed. The facility aims to enable borrowers to pursue projects on renewable energy, climate change mitigation, and adaptation. — Bernardette S. Sto. Domingo

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