Philippines: NEDA ICC OKs changes in major projects

• The National Economic and Development Authority’s Investment Coordination Committee-Cabinet Committee (ICC-CabCom) has approved extensions in the implementation period, scope, and changes in costing of several projects of national significance.
• At the top of the list of approvals were changes in three ongoing projects: Central Luzon Link Expressway (CLLEX) Project, Phase I; the National Irrigation Sector Rehabilitation and Improvement Project (NISRIP); and the Metro Manila Wastewater Management Project (MWMP).
• The implementation period of CLLEX Project, Phase I, of the Department of Public Works and Highways (DPWH) will be extended from Jun 17 to Apr 21, and its loan validity will be extended from Jul 19 to Jul 22, inclusive of a one-year defects liability period.
• For the NISRIP of the National Irrigation Administration (NIA), the project’s loan validity will be extended from the original closing date of Jul 19 to Jul 21.
• Project implementation period for civil works and other activities will also be extended from the originally approved period of Feb 12-Jun 19 to Feb 12-Jun 21.
• The revised total project cost amounts to PHP3.13bn, a 21.78% decrease from the previously approved cost of PHP4.01bn.
• For the scope of the project, the coverage will decrease to 34,216 hectares from the original estimate of 35,670 hectares.
• Despite the decrease in coverage, NIA highlighted that there will be a net increase in the total number of farmers that will benefit from NISRIP – from 22,563 to 26,683 farmers – and an increase in annual rice production of up to 319,510 tons per year.

External Link: https://www.philstar.com/business/2019/05/22/1919765/neda-icc-oks-changes-major-projects