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MANILA, Philippines – The National Economic and Development Authority (NEDA) board met and approved a second batch of projects under President Ferdinand Marcos Jr.
Marcos, as chief executive, is chairman of the NEDA board.
In a press briefing after the meeting on Friday, June 2, NEDA Secretary Arsenio Balisacan said the following were approved:
Tarlac-Pangasinan-La Union Expressway or TPLEX Extension Project
The unsolicited proposal was submitted in mid-March and approved by June 2.
The 59.4-kilometer, 4-lane extension will be implemented via public-private partnership or PPP under the Department of Public Works and Highways and costs P24.4 billion ($436.65 million). It will connect the Ilocos Region, Central Luzon, and Metro Manila.
Investment Coordination Committee or ICC Guidelines for LGU PPP Projects
According to NEDA, it “outlines the guidelines and procedures for processing PPP proposals of local government units or LGUs that require ICC action under the Philippine BOT law.”
The goal, said Balisacan, is to involve local government units even more in PPPs.
Confirmation of ICC’s approval of the Department of Agriculture’s Philippine Rural Development Project Scale-Up or PRDP Scale-Up
With an estimated cost of P45.01 billion ($805.68 million), NEDA said the project will “further enhance agricultural productivity, increase income opportunities, and improve the living conditions of rural communities throughout the country.”
Balisacan said that 68 of 194 identified Infrastructure Flagship Projects in the Marcos administration were ongoing. Twenty-five have been approved, while nine were pending approval. The projects have a total cost of P8.3 trillion ($148.57 billion). – Rappler.com
$1 = P55.88