5 deals for big ticket transport projects for Cebu, other provinces signed
MANILA, Philippines — The government signed five separate big-ticket transportation infrastructure projects on Wednesday, December 18, with President Ferdinand Marcos Jr. vowing to bring progress to every corner of the country.
The deals were made official in a signing ceremony in Malacañan Palace, with Transport Secretary Jaime Bautista signing on behalf of the Philippine government.
“I wish to share how we are going to make these things happen—how we can change things for the better and ensure that progress reaches every corner of our country,” Marcos said in his speech.
The first two deals were for Cebu, specifically the New Cebu International Container Port (NCICP) and the Cebu Bus Rapid Transit (CBRT).
The NCICP is a nearly P17 billion port facility project, that has been in the pipeline for more than two decades. The Civil Works Contract Package for the project was awarded to the HJ Shipbuilding Corporation Co. LTD.
“Once completed, this will not only make goods more affordable but will also generate thousands of jobs for our people. Apart from this, it will also create more opportunities for everyone as it will provide increased space for port activities,” Marcos said.
Hoping to alleviate congestion at the Cebu Base Port, the construction of the NCICP will include a 1,365-meter access road and a 300-meter offshore bridge. The government aims to complete the project by November 2027.
The NCICP will be funded by the Export-Import Bank of Korea.
An Expression of Interest was also signed with the World Bank Group to identify an operator for the P28 billion CBRT. The CBRT spans 35 kilometers, with 22 stations. The Palace said that once completed, the CBRT can serve up to 164,000 passengers a day.
“Costing over P28 billion, this modern bus network will connect key parts of Cebu City, making daily commuters easier in their commute and more comfortable,” Marcos said.
Meanwhile, a P4.53-billion Public-Private Partnership (PPP) was also signed to expand the Bohol-Panglao International Airport (BPIA). It was signed with the Aboitiz InfraCapital, Inc.
The expansion will have two phases. The government is eyeing to increase its capacity from 2 million to 2.5 million by 2026, further increasing this to almost 4 million passengers by 2025.
“This project is expected to generate P15 million in annual revenue during its first five years, rising to P200 million a year by the end of the concession period,” Marcos said.
Meanwhile, new regional airports will be built in Dumaguete and Siargao. The World Bank's International Finance Corporation will provide support for both the documentary and the bidding process.
“Both places face the same challenge: Limited connectivity. So we shall not settle for small fixes. And that is why we are building the new airports in Dumaguete and Siargao. These projects will completely change the way people travel to and from these areas,” Marcos said.
Finance Secretary Ralph Recto lauded the signing of the agreements, saying that it provides new opportunities for the areas where the projects will be built.
“All these projects are a major win for the economy, for tourism, for the environment, for the private sector, and most of all, for the Filipino people,” Recto said.
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