MANILA – The National Economic and Development Authority (NEDA) board has approved cost increases in two ongoing major infrastructure projects, including a 130-percent hike in the price tag of a segment of the Mindanao Railway.
The Mindanao Railway Project Phase 1-Tagum-Davao-Digos Segment will now cost P82.9 billion, or more than double its previous price tag of P35.9 billion in 2017.
This higher cost "will cover changes in cost of structural and construction works, among others," NEDA said.
NEDA also approved a higher price tag for the Metro Manila Priority Bridges Seismic Improvement Project, which will now cost P7.9 billion from a previous P4.3 billion.
The higher cost "will cover the changes in construction technology to be applied to the Guadalupe Bridge, putting up of temporary detour bridges in Guadalupe, and additional work shift to reduce the construction period, among others," NEDA said.
The changes were approved on July 10 by the NEDA Board's Investment Coordination Committee-Cabinet Committee.
“We see changes in scope and cost as opportunities to optimize the project components and update the estimates. The Government aims to speed up implementation while ensuring quality,” said Socioeconomic Planning Secretary Ernesto Pernia.