Pres. Rody Duterte Approves SMC's New Airport Project Worth P735.63-Billion

The tough-talking President of the Philippines made another significant achievement as a leader with political will as he approved a whooping mega projects worth nearly a trillion pesos of infrastructure project, which includes the San Miguel Corporation's unsolicited proposals to build an international airport in Bulacan according to the information shared by the DOF.

According to the list provided by Finance Secretary Carlos G. Dominguez III to reporters, the National Economic and Development Authority (NEDA) Board, chaired by the President, approved durign its April 25 meeting about 20 big-ticket infrastructure projects worth more than P974.8 billion.

The DOF stated that the largest among the projects approved by the NEDA Board is the P735.63-billion airport proposal submitted by San Miguel, a facility that once completed should help ease congestion at the Ninoy Aquino International Airport (NAIA).

San Miguel’s proposed new international “aerotropolis” involves an airport covering 1,168 hectares and a city complex to be built at a 2,500-hectare area along Manila Bay in Bulacan, Bulacan.

Based upon the plans presented by SMC, the 50-year airport project will entail building six parallel runways within the next 50 years, with an intitial capacity of 100 million passengers, or over triple the capacity of the country's main gateway, the Ninoy Aquino International Airport.

Although there's already a plan from SMC, the unsolicited proposal is still "subject to final review of concession agreement." SMC's airport project will be subject to a Swiss Challenge under government rules, meaning other groups will be invited to make competing offers, with the original bidder given the right to match any better proposal.

Aside from the proposed SMC airport project, other infrastructure projects approved by the President are the P50.03- billion Subic-Clark railway project, Clark International Airport expansion project costing P12.55 billion along with the Ambal-Simuay river and Rio Grande de Mindanao River Flood Control Projects costing P39.22 billion.

Likewise, the Pasig-Marikina river and Manggahan floodway bridges construction project (P27.368 billion), and the bridge construction acceleration project for socioeconomic development (P27.37 billion) were also approved by the NEDA Board.

The very first President from Mindanao, Pres. Rody Duterte also gave his green light for the proposed change in scope, cost and loan validity extension of the integrated disaster risk reduction and climate change adaptation measures in low-lying areas of Pampanga bay (P6.15 billion) and the rural agro-enterprise partnership for inclusive development and growth project (P4.78 billion).

The NEDA Board also confirmed the approval for the Davao Food Complex project (P1.02 billion), the proposed restructuring for the Integrated Natural Resources and Environment Management project (P7.24 billion), change in scope and cost for Integrated Marine Environment Monitoring System Phase 2 project ( P1.68 billion).

Lastly, the proposed increase in cost of the New Centennial Water Source- Kaliwa Dam project (P14.32 billion) was approved by President Duterte.

Source: PNA

Pres. Rody Duterte Approves SMC's New Airport Project Worth P735.63-Billion Pres. Rody Duterte Approves SMC's New Airport Project Worth P735.63-Billion Reviewed by Phil Newsome on April 29, 2018 Rating: 5
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