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NEDA joint panel OKs changes to 3 projects

May 22, 2019

A National Economic and Development Authority (NEDA) joint committee led by Finance Secretary Carlos Dominguez 3rd has approved changes to three projects that the government is currently implementing.

Chaired by Finance Secretary Carlos G. Dominguez III, the ICC-CabCom approved changes in the 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). NEDA FB

In a statement on Tuesday, NEDA said its Investment Coordination Committee-Cabinet Committee (ICC-CabCom) approved changes in the first phase of the Central Luzon Link Expressway (CLLEx) Project, the National Irrigation Sector Rehabilitation and Improvement Project (Nisrip), and the Metro Manila Wastewater Management Project (MWMP).

On the first project, which is handled by the Department of Public Works and Highways (DPWH), the implementation period of its first phase is extended from June 2017 to April 2021; and the validity of its loan from July 2019 to July 2022, inclusive of a one-year defects liability period.

“This will allow the DPWH to complete the remaining works that were hobbled by issues over right-of-way acquisition and delivery of aggregate supply,” NEDA explained. “The implementation-period extension will not entail an increase in total project cost.”

Regarding Nisrip, which the National Irrigation Administration (NIA) is implementing, its loan validity is also extended from its original July 2019 closing date to July 2021, and the end of its project implementation period for civil works and other activities — which began in February 2012 — moved from June 2019 to June 2021.

The total project cost was also revised, from the previously approved P4.01 billion to P3.13 billion, representing a 21.78-percent reduction. So was its coverage, from the original 35,670 hectares to 34,216 ha.

According to NEDA, the estimated number of farmers who stand to benefit from the project would rise to 26,683 from the previous 22,563.

And on the MWMP, the joint panel moved the closing date of the loan the project took from June 2019 to June 2020 and approved the replacement of the four Pasig Project Contract Packages under the account of Ayala-led Manila Water Company Inc. with three Marikina North Project Contract Packages and four University of the Philippines Project Contract Packages.

Once fully implemented, the wastewater project is expected to benefit up to 850,000 people within Manila Water’s concession area and up to 1.87 million people within the Lopez-led Maynilad Water Services Inc. concession area.

State-run Land Bank of the Philippines is the MWMP’s main proponent, together with the two water companies.

In addition to these projects, the ICC-Cabcom also noted changes in the Access to Sustainable Energy Program of the Department of Energy. These include a two-year implementation period extension from Dec. 18, 2019 to Dec. 18, 2021; a two-year validity extension of a grant from the European Union (EU) from Dec. 18, 2021 to Dec. 18, 2023; and a reallocation of grant proceeds from contingencies to technical assistance.

“These were approved through Department of Finance’s signing of an addendum to the financing agreement between the EU and the Philippine government [in] December 2018,” NEDA said.

Credit belongs to : www.manilatimes.net

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