NEDA approves P27.9 billion worth of projects

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(CNN Philippines) — Five projects worth about P27.9 billion were approved by the National Economic and Development Authority (NEDA) Board on Tuesday (May 19). The projects cover several different sectors, such as  transportation, irrigation, fire safety, and local development.

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LRT 2 extension

Over the next three and a half years, NEDA expects the Department of Transportation and Communications (DOTC) to implement the West Extension Project of Light Rail Transit (LRT) Line 2. The plan aims to extend the LRT 2 from Recto Station westward to the Pier 4 area at the Manila North Harbor.

An additional 3.02 kilometers of track will be added along with three proposed stations: Tutuban Station next to Cluster Mall, Divisoria Station west of the intersection of Recto Avenue and Asuncion Street, and Pier 4 Station, north of Zaragoza Street.

NEDA estimates the project to cost P10.12 billion, and says that it will be locally-financed.

Agno River Irrigation System

The NEDA Board also approved the extension of the Agno River Irrigation System. The plan which will be locally financed, is projected to cost P2.63 billion and run from 2015 to 2017.

In a statement, NEDA said that the project, led by National Irrigation Administration (NIA), aims to improve the operating efficiency of the Ambayaoan-Dipalo River system through increased crop yield and cropping intensity. The funds will also be used for the institutional development of farmers and the linking of agricultural offices and non-government organizations.

Balog-Balog  Multipurpose Dam Phase II

The NIA has also been tasked with directing Phase II of the Balog-Balog Multipurpose Dam Project. With an estimated cost of P13.37 billion, the Central Luzon project involves the construction of new irrigation service for approximately 21,935 hectares of land and the stabilization of the water supply in 12,475 hectares of irrigates land in Tarlac.

BFP capacity building

The Bureau of Fire Protection (BFP) is projected to receive P1.43 billion for Phase II of its Capacity Building Program. The project aims to augment the bureau's fire trucks and reduce a present requirement gap. Official Development Assistance will finance the project's goal of acquiring 76 fire trucks.

Land Bank of the Philippines LGU investment

The NEDA board also approved Supplement III of the Land Bank of the Philippines' Local Government Unit (LGU) Investment Program. The program facilitates the access LGUs in Mindanao to local development financing. Investments include the rehabilitation, modernization, or construction of public infrastructure. The project is scheduled to last from 2015-2017 at a cost of P231.1 million.