Five new projects in transportation and energy costing around P131.4 billion, including the construction of two new railways, were approved by President Benigno Aquino 3rd in a bid to stimulate economic development in growth areas, Malacañang said on Saturday.
The projects were finalized during the National Economic and Development Authority (NEDA) board meeting convened by the President at the Palace on Friday.
“President Aquino emphasized the importance of improving the infrastructure for sustaining long-term economic growth,” Presidential Communications Secretary Herminio Coloma Jr. said in a radio interview.
Coloma said the President approved two additional public-private partnership (PPP) projects — the Light Rail Transit (LRT) Line 4 and LRT Line 6.
The P42.89 billion LRT Line 4 project involves the financing, design, construction, operations and maintenance of an 11-kilometer rail that will run from SM City Taytay to the intersection of Ortigas Avenue and EDSA Ortigas.
The project hopes to address congestion along Ortigas Avenue and improve transportation to western parts of Metro Manila.
The P64.71 billion LRT Line 6 involves the construction of a 19-kilometer railway from Niyog, Bacoor to Dasmariñas City. The project is expected to cut travel time from the Bacoor to Dasmariñas.
Coloma said other non-PPP projects were approved by the president, such as the P3.5 billion redesign of the Naga Airport, the P13 billion Clark International Airport new passenger terminal building and the Department of Energy’s P2.82-billion Access to Sustainable Energy Program.
The Naga airport development project will enable dual-approach landing and takeoff and new airside and landside facilities will be established to meet the growing tourism demand.
The construction of a new passenger terminal building at the Clark International Airport will accommodate up to three million passengers yearly. Both airport projects will be funded by the government.
The Department of Energy’s Access to Sustainable Energy Program, meanwhile, provides grant assistance for solar home systems and rural power generation facilities, as well as technical assistance to the National Electrification Administration and the Energy Regulatory Commission, and electric cooperatives.
The focus of the project is the development of pro-poor, disaster-resilient solutions, according to Coloma.
The project costs P4.891 billion, including official development assistance from the European Union in the amount of P2.82 billion. The balance will be funded from the national budget.