The National Economic and Development Authority (NEDA) Board approved on Thursday three new infrastructure projects amounting to P139.77 billion in a meeting chaired by President Benigno S. Aquino III. These projects include the Laguna Lakeshore Expressway-Dike Project; Laguindingan Airport Development, Operations and Maintenance Project; and the New Bohol Airport Development, Operations and Maintenance Project. “The approval of these new infrastructure projects is a timely contribution to the improvement of the country's connectivity and efficiency, mitigating disaster-risks, supporting agricultural production, and pursuing energy and water security. These are all in line with strategies of the Updated Philippine Development Plan 2011-2016,” said Economic Planning Secretary Arsenio M. Balisacan.

Following are the details of the newly-approved projects:

Laguna Lakeshore Expressway-Dike Project

Estimated total cost: P122.81 billion

Proponent: Department of Public Works and Highways

Description: The project will provide a high-standard highway-dike that will facilitate traffic flow and mitigate flooding in western coastal communities along the Laguna Lake. It will serve the fast-growing urban areas in southern Metro Manila towards Laguna, Batangas, and Quezon, with intensive residential, commercial, and industrial land uses.

Estimated implementation period: Concession period is 37 years. This consists of seven years for design and construction and 30 years for operation and maintenance.

Proposed mode of financing: Public-Private Partnership

Laguindingan Airport Development, Operations and Maintenance Project

Estimated total cost: P14.62 billion

Proponent: Department of Transportation and Communications

Description: The project will improve Laguindingan Airport's capacity and upgrade its facilities and equipment to be of international standards through engaging a private entity under an appropriate Public-Private Partnership arrangement. This will also replace the Cagayan de Oro (Lumbia) Airport, which served as large catchment area of Northern Mindanao.

Estimated implementation schedule: 30 years concession period including construction (2015-2044)

Proposed mode of financing: Public-Private Partnership

New Bohol Airport Development, Operations and Maintenance Project

Estimated total cost: P2.34 billion

Proponent: Department of Transportation and Communications

Description: The project will provide the structuring and implementation of a Public-Private Partnership arrangement for the operations and maintenance (O&M) of the New Bohol Airport. This includes the selection of an international or national consortium for the active marketing of the airport and develop direct international passenger traffic. The consortium will also be in charge of infusing necessary capital investments to upgrade facility capacity in terms of passengers or Air Traffic Movement.

Estimated implementation schedule: Construction period is from 2014-2016. Maximum concession period is 35 years.