NEDA Board confirms 12 new projects worth P67 billion

By Cai Ordinario, BusinessMirror

Posted at Apr 15 2014 07:35 AM | Updated as of Apr 15 2014 03:35 PM

MANILA - The National Economic and Development Authority (Neda) Board has confirmed 12 new projects with a total estimated cost of P67.07 billion in the first quarter of 2014.

The Department of Transportation and Communications (DOTC) will implement six of the projects worth P38.15 billion. Three of these projects are in the National Capital region (NCR), one each in the Bicol region and Eastern Visayas, and one for nationwide implementation.

The three DOTC projects to be implemented in the NCR are the Light Rail Transit (LRT) Line 2 East Extension project; Mass Rail Transit 3 Capacity Expansion Project, which involves the acquisition of 52 light- rail vehicles; and the LRT Line 1 North Extension Project-Common Station project.

The other three DOTC projects are the Bicol International Airport Project in Daraga, Albay; the Tacloban Airport Redevelopment Project; and the Land Transportation Office-(LTO) Infrastructure and Information System (LTO-IIS) Project/DOTC-LTO.

The Department of Agriculture will be the implementing agency for three projects worth P15.61 billion that were confirmed by the Neda Board in the January-to-March period.

The three projects are the Casecnan Multipurpose Irrigation and Power Project-Irrigation Component Phase in Central Luzon; the Umayam River Irrigation Project in Caraga; and the Malitubog- Maridagao Irrigation Project Phase 2 in the Autonomous Region in Muslim Mindanao and Soccsksargen.

The three other projects that were approved by the Neda Board in the first quarter are the Department of Public Works and Highways’ P5-billion Flood Control Projects; the Metropolitan Waterworks and Sewerage System’s P5.72-billion Strengthening of Angat Dam and Dike Project; and the National Power Corp.’s P2.6-billion Agus 6 Hydroelectric Power Plant (Units 1 and 2) Upgrading Project.

The powers and functions of the Neda reside in the Neda Board. It is the country’s premier social and economic development planning and policy-coordinating body.

The board is composed of the President as chairman, the Socio-Economic Planning secretary and Neda director general as vice chairman, and the following as members: the executive secretary and the secretaries of Finance, Trade and Industry, Agriculture, Environment and Natural Resources, Public Works and Highways, Budget and Management, Labor and Employment, and Interior and Local Government.