ICC-CABCOM APPROVES FISH PORT PROJECT, PH-KOREA PROJECT FACILITY

The National Economic and Development Authority Board Investment Coordination Committee-Cabinet Committee (ICC-CabCom) approved for NEDA Board confirmation, two new projects and changes in two previously-approved projects.

The ICC-CabCom also confirmed the Rate of Return (RoR) for one Public-Private Partnership (PPP) project.

On December 19, the ICC-CabCom approved the Regional Fish Port Project for the Greater Capital Region (GCR) of the Department of Agriculture Philippine Fisheries Development Authority (PhP14.07 billion) and the Philippines-Korea Project Preparation Facility (PK-PPF) of the Department of Finance (PhP3.87 billion).

The Regional Fish Port Project for GCR will rehabilitate and upgrade the Navotas Fish Port Complex (NFPC) to serve the present and future demands of the GCR. By providing the needed postharvest facilities, services, and logistics, the project will facilitate access of fishermen to value chains (fish, processor, and exporters).

Meanwhile, the PK-PPF aims to support the efficient and timely implementation of the projects under the Build Build Build program, more specifically, priority projects of the National Irrigation Administration and Department of Public Works and Highways (DPWH), through the conduct of project preparatory activities.

The facility will also be open to other agencies that need immediate support in project preparation and packaging.

Moreover, the ICC also approved the proposed changes in two previously-approved projects in Mindanao.

First, the ICC reconfirmed its earlier approval of the Road Network Development Project in Conflict-Affected Areas in Mindanao (RNDP-CAAM) of DPWH with a total project cost of PhP12.86 billion.

Second is the ICC approval of the change in scope and increase in the cost of the Reconstruction and Development Plan for a Greater Marawi Stage 2 of DPWH.

The change in scope includes the construction of the expanded Marawi Transcentral Road (MTR) Phase 4 with a length of 20.68 km, as well as the construction/rehabilitation of the three vital-link bridges located in the same area. The updated project cost is PhP6.84 billion as a result of the change in scope.

The ICC-CabCom also confirmed the reasonable rate of return submitted by the lone complying bidder of the Clark International Airport (CIA) Expansion Project O and M PPP Concession of the Bases Conversion and Development Authority.

This is pursuant to Republic Act (RA) No. 6957, as amended by RA 7718, or the Build-Operate-Transfer Law.

The project will develop the CIA as a major gateway/transport hub in the Northern and Central Luzon regions. It involves the management, operations and maintenance of the existing passenger terminal and the proposed new passenger terminal buildings.

Source: The National Economic and Development Authority