NEDA approves P25-B public-private partnership projects

MANILA, Philippines - The National Economic and Development Authority (NEDA) Investment Coordination Committee-Cabinet Committee (ICC-CC) has approved three public-private partnership (PPP) projects worth over P25 billion.

In a statement, the PPP Center said the three projects that received the green light of the ICC-CC are the Philippine Travel Center Complex (PTCC) of the Department of Tourism, the Plaridel Bypass Toll Road of the Department of Public Works and Highways and Batangas-Manila (BatMan) 1 Natural Gas Pipeline project of the Philippine National Oil Co.

The P1.747-billion PTCC project involves the financing, design, construction and maintenance of a mixed-use, multimodal complex that will house various tourism-related agencies in Intramuros, Manila.

The PTCC is envisioned to house all transactions related to travel and tourism in a single complex.

Aside from being a one-stop shop, the PTCC would also have mixed-used development to bring in commercial interests.

The PTCC is expected to improve the delivery of government services and further facilitate ease of doing business.

The P9.387-billion Plaridel Bypass Toll Road, meanwhile, is a 23.3-kilometer road starting at the Balagtas interchange in North Luzon Expressway up to San Rafael, Bulacan.