The National Economic and Development Authority (NEDA) Board’s Investment Coordination Committee-Cabinet Committee (ICC-CC) approved on Tuesday the Metro Manila Subway Project (MMSP)-Phase I and two other projects.
The ICC-CC approved the MMSP I, which will run from Mindanao Avenue in Quezon City and, following the ICC-CC’s directive, will terminate at the Ninoy Aquino International Airport (NAIA) in Paranaque City. Its initial investment requirement is estimated at ₱355.6 billion.
The project also involves the construction of a 28-hectare training center and depot, as well as and other related facilities. Implementation period is from 2018 to mid-2025.
“The first phase of the MMSP will not only ease traffic in Metro Manila but also improve the quality of life of Filipinos. For one, carbon emissions will be reduced. And, with greater mobility, people can spend more time on things that matter to them,” Socioeconomic Planning Secretary Ernesto M. Pernia said.
The ICC-CC likewise approved, the proposal of the Bases Conversion and Development Authority (BCDA) to adopt the Build-Transfer (BT) scheme under the Amended BOT Law, as mode of implementation for the construction of the Clark International Airport facility. The project involves the construction of an 82,600 square meter terminal building, with a design capacity of 8 million passengers per annum. As earlier approved by the ICC in May 2017, the Clark International Airport Expansion Project has an estimated total project cost of PhP15.35 billion, with P2.8 billion sourced from the DOTr budget for pre-construction activities, while the remaining investment requirement of PhP12.55 billion will be provided by the BCDA.
Meanwhile, the ICC-CC also approved the Lower Agno River Irrigation System Improvement Project (LARISIP) with a total cost of ₱3.5 billion. The project will cover the development of new service area and rehabilitation of the Lower Agno River Irrigation System, with a combined total of 12,650 hectares service area.
At least 10,000 farmers will benefit from free irrigation which is expected to increase their income. The project is expected to begin in January 2018 and end by December 2021.
“We want to improve our farmers’ quality of life by providing them access to irrigation and financing. This will increase their productivity, output, and income,” Pernia said.