TACLOBAN CITY – The Department of Public Works and Highways (DPWH) is seeking the extension of validity of Korean-funded $20.63 million loan for the Samar Pacific Coastal Road.
DPWH Regional Director Edgar Tabacon said on Monday (September 25) that the loan extension is badly needed since there were pre-implementation activities that have been done for the project.
The proposed extension will be presented for approval by the Regional Development Council (RDC) on Sept. 29 after it was endorsed on Sept. 22 by its infrastructure and utilities development committee.
The Korea Export-Import Bank-Economic Development Cooperation Fund Loan No. Phl-14 was signed last Aug. 19, 2013 and was effective dated Jan. 17, 2014 with the original closing date of Jan. 16, 2018.
Tabacon said the pre-implementation activities for the project was delayed since efforts have been diverted to post-Yolanda rehabilitation activities.
The DPWH completed the detailed engineering design last Oct. 8, 2015. Pre-procurement conference for selection of contractors was held Jan. 11, 2017, followed by a pre-bid conference on Feb. 7 and submission of the technical and financial proposal on Feb. 28.
The government submitted the report to the Korean bank on March 25, 2017 and was concurred last July 5, 2017. The DPWH is eyeing to start its implementation between September 2017 to January 2020.
The loan will expire on Jan. 18, 2018. Under the proposal, the DPWH seeks an extension of the loan up to January 2020 or an additional 24 months for the implementation of the road project.
“The Samar Pacific Coastal Road, which has a total length of 109.3 kilometers, will eventually complete the circumferential road loop for Samar Island. This will enhance the development of potential agricultural lands and fishing grounds of two Samar provinces,” Tabacon added.
The foreign-funded project involves the improvement of the 11.30 kilometers unpaved section of the coastal road and construction of three bridges.
Once approved by the RDC, the proposal will be forwarded to the National Economic and Development Authority main office for endorsement to the Korean Bank.
The foreign-funded project is on top of the ongoing works for the Arteche-Jipapad-Las Navas-Catubig-Rawis that link Eastern Samar and Northern Samar provinces. (SARWELL Q. MENIANO/PNA)