Finish projects, PNoy tells Cabinet, NEDA

by RG Cruz, ABS-CBN News

Posted at Jun 20 2014 08:39 PM | Updated as of Jun 21 2014 04:39 AM

MANILA - President Benigno Aquino has asked the Cabinet and the National Economic and Development Authority (NEDA) to focus on completing ongoing projects as his administration enters its last 2 years in office.

Aquino said this will also lay the groundwork for sustainable, long-term economic development and inclusive growth, Communications Secretary Sonny Coloma said a day after the President chaired the NEDA Board meeting with the Cabinet on Thursday.

During the meeting presided by Aquino, the NEDA Board approved 3 new infrastructure projects totalling P139.77 billion.

These projects are as follows:
(in million pesos)

1. DOTC :
Laguindingan Airport Development, P14,615.40 million
Operations and Maintenance Project

Laguna Lakeshore Expressway P122,811.12 million
Dike Project

New Bohol Airport Development and P2,335.20 million
Operations/Maintenance Project

In the same meeting, the NEDA Board also approved the following:

- The P9.35 billion pesos single bid of the Light Rail Manila Consortium for the LRT Line 1 South Extension Project, which will connect Manila to the province of Cavite;

- The change in funding source for the Umayan River Irrigation Project (URIP), from an Official Development Assistance (ODA) to locally-sourced funds, thereby reducing the cost of the project from the original P1.56 billion to P1.4 billion;

- The change in funding source for the Casecnan Multipurpose Irrigation and Power Project - Irrigation Component, which will be also funded from local funds, bringing the cost down to P5.45 billion, from the original-approved amount of P7.61 billion.