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THE
National Economic and Development Authority (Neda) board
has approved the P11.783-billion Greater Maritime Access
Ports Project of the Department of Transportation and
Communications (DOTC) and the Philippine Ports Authority
(PPA).
The
project involves the nationwide installation,
establishment, and development of 70 Roll On-Roll Off (RORO)
ports.
The
project will involve the construction of a pier
connecting to the shore, a mooring platform, manual
ramp, pile mooring dolphin, and passenger terminal units
with solar power utilities.
Neda
documents said that 87.7 percent, or P10.33 billion, of
the total project cost will be sourced through foreign
borrowing while the remaining 12.29 percent, or P1.45
billion, will be provided as national government
counterpart funding.
“The
foreign financing for the project is proposed to be
sourced from the Banco Bilbao Vizcaya Argentaria, S.A.
through buyers credit to be provided to the government
by the modular ports supplier and backed by the Spanish
government’s Compañia Española de Seguros de Credito a
la Exportacion (CESCE),” the Neda documents said.
The Neda
said the PPA will oversea the planning and
implementation of the project by creating the Special
Project Management Office (SPMO) within the office of
the PPA general manager.
The SPMO
will be headed by an executive director who will
directly report to the Transportation Secretary and the
PPA general manager.
The
project is scheduled for implementation over a four-year
period starting in 2008. |
