MANILA, Philippines - The P43.3 billion Cavite-Laguna Expressway (CALAX) project and the P4.8 billion Bicol airport project have recently been approved by the National Economic and Development Authority (NEDA) Investment Coordination Committee-Cabinet Committee (ICC-CabCom).
The CALAX project involves the construction of a 4-lane, 47.018 kilometer expressway from the end of Cavite Expressway in Kawit, Cavite to Mamplasan Interchange of the South Luzon Expressway in Biñan, Laguna.
"The project is consistent with the Philippine Development Plan 2011-2016's transport sector objective of providing dependable access to production areas such as Cavite and Laguna, being rapidly growing industrial and commercial centers south of Metro Manila," Socioeconomic Planning Secretary Arsenio M. Balisacan said, in a statement.
The P43.319 billion CALAX project will be financed partly through public-private partnership and official development assistance from the Japan International Cooperation Agency.
At the same time, the Bicol International Airport project will involve the construction of an airport of international standards in Daraga, Albay, to replace the province's existing airport in Legazpi.
"The project aims to improve safety and efficiency of aircraft operations through the construction of a new airport in Albay that meets international standards and practices and enhance the accessibility of tourism destinations in the Bicol Region," Balisacan said.
The project will include construction of passenger and cargo terminal buildings, security and navigational aid equipment, and lanside and airside facilities.
The ICC-CabCom also approved requests for scope and cost adjustments and loan validity extension for 4 on-going projects. These projects are the Bridge construction/ replacement project; Mindanao Roads Improvement Project Laguindingan Airport Development Project and Support for Strategic Local Development and Investment Project .