New international gateway in Bulacan step closer to realization

News

The construction of new international gateway in the National Capital Region (NCR) is a step closer to realization after the Investment Coordination Committee (ICC)-Cabinet Committee endorsed the Bulacan Airport Project for approval of National Economic and Development Authority (NEDA) Board chaired by President Rodrigo Duterte.

The ICC-Cabinet Committee made the recommendation on April 4.

According to NEDA the Bulacan Airport Project has a project cost of PhP735.63 billion.

“The unsolicited proposal involves the construction of a terminal, parallel runways, and airport toll road, and will be able to accommodate 100 million passengers per annum by its opening year of 2023,” NEDA said.

It added that the ICC’s approval of the airport project includes recommendation to the NEDA Board for negotiations between DOTr and San Miguel Holdings towards conducting the prescribed Swiss Challenge, after finalizing the bidding parameters with the Department of Finance.

“As we aim to promote infrastructure development, the ICC Technical Board and Cabinet Committee are duty bound to address all these areas to ensure the success of any project,” NEDA Undersecretary for Investment Programming Rolando G. Tungpalan said.

Source: http://www.neda.gov.ph/2018/04/05/icc-endorses-two-projects-to-neda-board/