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Thursday, January 22, 2009

NEDA ICC-CabCom approves PTV-4 upgrading & bridges project totaling PhP10B, cost increase of Iloilo Flood Control Project worth PhP1.68B

The National Economic and Development Authority (NEDA) Investment Coordination Committee-Cabinet Committee (ICC-CC) recently approved two projects totaling some PhP10 billion to strengthen the government’s information system and link the country’s islands. Approved were the Immediate Rehabilitation Project of the People’s Television Network, Inc. (PTV-4) and the Bridges for Prosperity Acceleration Project.

Meanwhile, the ICC-CC re-evaluated the Iloilo Flood Control Project Phase 2 (Stage 1) and its change in scope and cost increase of PhP1.68 billion was also approved. The project aims to mitigate flood damage to create a more sustainable urban community in Iloilo.

Aiming to modernize the analog broadcast facilities and equipment of PTV-4 and strengthen its efficiency and effectiveness as an integral and critical part of the government’s information system, the rehabilitation of the network is estimated to cost PhP470 million. About 85 percent of the funding for the said project shall be sourced from the US Export-Import (EXIM) Bank with London Forfaiting Americas, Inc. (LFAI) as lender. LFAI shall finance the remaining 15 percent.

On the other hand, the bridge project of the Department of Public Works and Highways (DPWH) involves constructing permanent bridges and replacing temporary bridges, all totaling 242 along national roads nationwide.

Of the PhP9.6 billion-bridge project, about PhP8.3 billion shall be financed by the United Kingdom and about PhP1.31 billion shall be provided by the Philippine government.

The Iloilo Flood Control Project Phase 2 (Stage 1) change in scope of works was approved to avoid further delays in the completion of the project due to right-of-way (ROW) problems. Also approved was the project’s additional cost due to increase in the civil works, ROW and construction management components and the 38-month extension of implementation period from March 2002 to March 2007 to March 2002 to July 2010. The project is expected to benefit the six districts of Iloilo City with a total land area of 6.85 hectares.

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