The National Economic and Development Authority (NEDA) Board on Friday approved the Tarlac-Pangasinan-La Union Expressway (TPLEX) Extension Project.
This is the fastest unsolicited proposal approval – from its submission on March 17, 2023 up to the approval on June 2, 2023 – in accordance with the Investment Coordination Committee (ICC) guidelines, NEDA Secretary Arsenio Balisacan said.
The 59.4-kilometer, 4-lane extension highway will connect the Ilocos Region, Central Luzon, and Metro Manila. This is expected to stimulate economic activity, alleviate road congestion, provide better and safer road access, and promote the development of new growth centers in nearby regions.
The TPLEX Extension Project will be implemented through a public-private partnership (PPP) under the Department of Public Works and Highways. The estimated cost of the project is P23.4 billion.
The NEDA Board, chaired by President Ferdinand Marcos Jr., also confirmed the “Investment Coordination Committee or ICC Guidelines for LGU PPP Projects,” which outlines the guidelines and procedures for processing PPP proposals of local government units or LGUs that require ICC action under the Philippine BOT law.
The guidelines outline the role of the Regional Development Councils and other local development councils, particularly in ensuring that LGU projects are in line with national development plans.
Recognizing the vital role of LGUs in driving economic growth, the guidelines provide a streamlined process for local governments to pursue PPP projects that require action by the ICC.
The NEDA Board also noted its earlier confirmation of the ICC approval of the Department of Agriculture’s Philippine Rural Development Project Scale-Up or PRDP Scale-Up.
The PRDP Scale-Up, estimated to cost P45.01 billion, aims to build on the successes of the original PRDP. Its goal is to further enhance agricultural productivity, increase income opportunities, and improve the living conditions of rural communities throughout the country.