“There is just one project that they have already signed,” Finance Assistant Secretary Maria Edita Tan said, referring to the P9.19-billion New Cebu International Container Port project, which the Philippines’ National Economic and Development Authority Board has approved. A 500-meter berth lengthThe Cebu port project involves the construction of a container port with a 500-meter berth length in a 25-hectare reclaimed island in Barangay Tayud in the municipality of Consolacion, Cebu. The project had been approved and endorsed by Finance Secretary Carlos Dominguez 3rd for South Korean ODA financing. Besides the Cebu container port project, Tan said the government is looking to propose seven more infrastructure projects for South Korean funding. The Philippine government plans to spend P8.4 trillion on infrastructure projects during the term of President Rodrigo Duterte until 2022.

Source: Manila Times July 04, 2017 17:03 UTC