The Philippine Investment Coordination Committee (ICC)-Cabinet Committee has approved six new big-ticket projects worth a combined P57.494 billion that are meant to, among others, improve road networks and mobilize financial resources for local government units (LGUs) in Mindanao, and help ease traffic congestion in Metro Manila.
Finance Secretary Carlos Dominguez III, who chairs the ICC, said that of the newly approved projects, the largest amount of P21.194 billion will fund the upgrading of seven gravel roads totalling 236.5 kilometers and one 40-kilometer road segment. This will provide more direct routes and open areas for development in Mindanao.
As approved by the ICC-Cabinet Committee, a project facilitation, monitoring, and innovation task force was also created to monitor the government’s top 75 infrastructure flagship projects worth an estimated P14.989 billion.
The committee likewise approved the procurement of seven maritime disaster response helicopters to strengthen and expand the Philippine Coast Guard’s capability to respond to maritime incidents during natural calamities.
Additionally, this procurement plan, which will cost around P5.887 billion, will involve the training of pilots and technical crew; purchase of mission equipment, maintenance tools, and spare parts; construction of hangars; and project management.
And to ease traffic congestion in Metro Manila, the body also approved the construction of the P4.607-billion Binondo-Intramuros Bridge and the expansion of Estrella-Pantaleon Bridge at a cost of P1.376 billion.
The Binondo-Intramuros Bridge project will involve building a steel bowstring arch bridge with intersecting reclining arches supporting a four-lane deck of about 725 linear meters to connect Intramuros and Binondo, with a viaduct over the creek adjacent to the Muelle de Binondo in Manila.
The existing two-lane Estrella-Pantaleon Bridge will be expanded to four lanes to increase the road network capacity connecting Makati City at Rockwell Center and Mandaluyong City.
According to Dominguez, the ICC-Cabinet Committee approved as well a P7.919-billion infrastructure preparation and innovation facility that will support project development and implementation of key infrastructure projects.
The facility will cover feasibility assessment and studies, detailed engineering design, preparation of procurement documents, and due diligence reviews.
To mobilize financial resources for LGUs and micro, small and medium enterprises in Mindanao, the committee gave the go-signal for the P1.519-billion Conflict Sensitive Resource and Asset Management Programme-Financial Cooperation Measure project that will be administered by the Land Bank of the Philippines.
The project is focused on development-oriented infrastructure and access to asset finance, which applies conflict-sensitive appraisal techniques.
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