Government of China in financing talks with Government of Philippines over Palanca-Villegas Bridge Project (linked to projects #63280, #63284, #63289, #63292 and #63293)
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Philippines
Sector
Transport and storage (Code: 210)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Description
Pasig-Marikina River and Manggahan Floodway and Bridges Construction Project (or the Metro Manila Logistics Improvement Project) involves the construction of twelve priority bridges crossing the Pasig-Marikina River and Manggahan Floodway. According to "INFRASTRUCTURE FLAGSHIP PROJECTS AS OF JULY 27, 2018 NEDA Board Approved - 35 projects," NEDA Board approved the project in April 2018 and the feasibility study was completed in June 2018. The Department of Public Works and Highways submitted to DOF on June 6, 2018 the requisite documents to facilitate the application for the preferential buyer's credit loan from China. On Aug. 22-24, 2018, the project was under discussion as one of the projects under the “second basket” for Chinese loan financing. The start of civil works was planned to start in January 2020 and end in December 2023. On September 18, 2020, the government of the Philippines awarded the contract to the China State Construction Engineering Corporation. Palanca-Villegas (2nd Ayala) Bridge Project will connect Villegas Street in Ermita to Palanca Street in Manila, with a total project cost of PHP 1,595,490,000. It is part of DPWH’s Metro Manila Logistics Improvement Project (recorded in the umbrella project #63280) to build 12 new bridges across the Pasig and Marikina Rivers, and the Manggahan Floodway. The 438 meter-long bridge will have two lanes, and be located between the Quezon Bridge and Ayala Bridge. This project is part of the Metro Manila Logistics Improvement Project (recorded in the linked project #63280), which also includes: North & South Harbor Bridge [Contract 1] (project ID#63293) Beata-Manalo Bridge [Contract 2] (project ID#63284) Blumentritt-Antipolo Bridge [Contract 2] (project ID#63289) East Bank-West bank Bridge 1 [Contract 2] (project ID#63292). The value of the preferential buyer's credit supporting this loan is unknown.
Additional details
As of December 2020, two commercial contracts for the implementation of the bridges have been signed by two Chinese companies and the Department of Public Works and Highways of the Philippines (Xinhua News).
Number of official sources
4
Number of total sources
6
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of the Philippines [Government Agency]
Implementing agencies [Type]
China State Construction Engineering Corporation (CSCEC) [State-owned Company]