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:
AGENCY / PROJECT TITLE / PROJECT COST
(in million pesos)
1. DOTC :
Laguindingan Airport Development, P14,615.40 million
Operations and Maintenance Project
Laguna Lakeshore Expressway P122,811.12 million
New Bohol Airport Development and P2,335.20 million
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.