The Philippines' National Economic and Development Authority (NEDA), through the Investment Coordination Committee-Cabinet Committee (ICC-CC), has approved three projects to be developed under the PPP model.
The three projects are worth over P25.8 billion (US$558.5 million). The list of three projects that have received the green light of the ICC-CC is the following:
- Philippine Travel Center Complex (PTCC) PPP project. It belongs to the Department of Tourism and involves the financing, design, construction and maintenance of a mixed-use, multimodal complex that will house various tourism-related agencies in Intramuros, Manila. The total project investment is estimated at P1.747 billion (US$37.8 million).
- Plaridel Bypass Toll Road PPP project. It involves the development of a 23.3 km road starting at the Balagtas interchange in North Luzon Expressway up to San Rafael, Bulacan. The road will be expanded to four-lane road with 3.50 meter width per lane and 2.5 meter width shoulder. The total project investment is estimated at P9.387 billion (US$203.2 million).
- Batman1 gas pipeline PPP project. It involves the construction of a 121-kilometer natural gas transmission and distribution pipeline facilities for the province of Batangas to transport and supply natural gas to the various industries in the economic zones of Batangas, Laguna, Cavite and Metro Manila. The total project investment is estimated at 14.72 billion (US$318.6 million).
After the ICC-CC approval, the projects are set for approval of the NEDA Board which is chaired by President Aquino.