The list of "game-changing" projects was cleared during the NEDA ICC-Cabinet Committee (Cabcom) meeting late Tuesday and would be presented for approval during the next NEDA board meeting next month.
The project's new physical configuration includes dual tracks for LRT-1, MRT-3, and MRT-7, and a total concourse area of 13,700 square meters.
According to NEDA, the project is targeted to be completed by April 2019 "assuming there will be no needless further delays".
The 55 flagship projects entail various forms of financing such as official development assistance, loans from multilateral development banks, general appropriations and public-private partnership.
The project will reallocate P570.38 million to construction and procurement, consulting services, administration costs, VAT, and duties and taxes from the local counterpart contingency.
NEDA undersecretary Rolando Tungpalan said these proposed flagship projects would also focus on spurring development outside of Metro Manila. These are Chico River Pump Irrigation Project, New Centennial Water Source, North-South Railway Project, Rehabilitation/Improvement of the Zamboanga Fish Port Complex, Mindanao Railway Project, Nationwide Fish Ports Project, Ilocos Norte Irrigation Project, Regional Fish Port Project for Greater Capital Region, Gregorio del Pilar Impounding Project, Tamauini River Multipurpose Project, Panay River Basin Integrated Development Project, Asbang Small Reservoir Irrigation Project and Bohol Northeast Basin Multipurpose Dam Project.
New projects which will go through ICC-CC review and approval will now have to cost at least P2.5 billion.
However, projects below the P2.5 billion threshold will still need certification as this is needed to make certain that the project is consistent with the government's plan.
Shortly after Duterte assumed office a year ago, the government increased the ICC project cost floor from P1 billion to P5 billion to declog the pipeline of projects for ICC approval and to promote greater decision flexibility and accountability of line departments in implementing their priority projects. "The ones that will be connecting the archipelago like bridges and other major city developments", he said.
The project's new physical configuration includes dual tracks for LRT-1, MRT-3, and MRT-7, and a total concourse area of 13,700 square meters.
According to NEDA, the project is targeted to be completed by April 2019 "assuming there will be no needless further delays".
The 55 flagship projects entail various forms of financing such as official development assistance, loans from multilateral development banks, general appropriations and public-private partnership.
The project will reallocate P570.38 million to construction and procurement, consulting services, administration costs, VAT, and duties and taxes from the local counterpart contingency.
NEDA undersecretary Rolando Tungpalan said these proposed flagship projects would also focus on spurring development outside of Metro Manila. These are Chico River Pump Irrigation Project, New Centennial Water Source, North-South Railway Project, Rehabilitation/Improvement of the Zamboanga Fish Port Complex, Mindanao Railway Project, Nationwide Fish Ports Project, Ilocos Norte Irrigation Project, Regional Fish Port Project for Greater Capital Region, Gregorio del Pilar Impounding Project, Tamauini River Multipurpose Project, Panay River Basin Integrated Development Project, Asbang Small Reservoir Irrigation Project and Bohol Northeast Basin Multipurpose Dam Project.
New projects which will go through ICC-CC review and approval will now have to cost at least P2.5 billion.
However, projects below the P2.5 billion threshold will still need certification as this is needed to make certain that the project is consistent with the government's plan.
Shortly after Duterte assumed office a year ago, the government increased the ICC project cost floor from P1 billion to P5 billion to declog the pipeline of projects for ICC approval and to promote greater decision flexibility and accountability of line departments in implementing their priority projects. "The ones that will be connecting the archipelago like bridges and other major city developments", he said.
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