Foreign lenders wanted: P348 billion needed for Duterte's new infra projects
MANILA, Philippines – The Duterte administration is in need of at least P348 billion for new projects included in its revised list of infrastructure projects.
Based on the new list with 100 projects that Rappler acquired through an informed source, at least 50 projects would be funded through official development assistance (ODA) and would cost a total of P2.3 trillion. Most have already started construction. (READ: LIST: Duterte's revised lineup of Build, Build, Build projects)
Filtering out ODA-programmed projects that are currently under construction, there are 9 new projects added to the list which have a total cost of P348 billion.
The most expensive of all the new projects on the list is the Bataan-Cavite Interlink Bridge amounting to P187 billion.
Two long span bridges with a total length of 31 kilometers will connect Mariveles, Bataan, to Corregidor, then to Naic, Cavite. It is targeted to be completed by 2025, 3 years after President Rodrigo Duterte's term ends.
Another pricey project is the Metro Rail Transit Line 4, which amounts to at least P59.3 billion. The project involves the construction of an elevated rail system over 15 kilometers long, starting from N Domingo in Quezon City to Taytay, Rizal.
Other new projects include the Cebu-Mactan Bridge and Coastal Road (P26 billion), Davao City Expressway (P24.5 billion), Davao Public Transport Modernization (P18.7 billion), EDSA Greenways (P9.7 billion), Iconic Bridge Projects for Socioeconomic Development (P5.9 billion), and the Samal Island-Davao City Connector Bridge (P16 billion).
The list has already identified China as the source of funding for part of the Marawi City rehabilitation. Totaling P998 million, the grant covers a bridge and bypass project, as well as the Grand Padican Market and Sports Complex.
Only the Marawi City projects and the EDSA Greenways project are expected to be completed by 2022, the final year of the Duterte presidency.
Four of the projects are awaiting government approval, while 5 are still in project development.
Most of the new projects will have to be completed by the next Philippine president. – Rappler.com