(Eagle News)–The government has unveiled plans to construct the Bataan-Cavite Interlink Bridge, which it says will be one of the longest marine bridges in the world once completed.
According to the Department of Finance, the Asian Development Bank has already approved financing of up to $2.11 billion of the $3.91 billion constructing the 32.15-kilometer bridge is expected to cost.
The Asian Infrastructure Investment Bank has been proposed as the source of $1.14 billion of the total project cost, while the Philippine government is expected to fund the remaining $664.23 million, the DOF said.
According to the DOF, the project will be financed under a multi-tranche facility, with the first tranche amounting to $650 million already covered by a loan agreement signed between the government and ADB on Dec. 15.
The succeeding tranches, it said, will be availed of throughout the duration of the project, each subject to the relevant government approval.
The bridge will complete the transport loop around Manila Bay and
will better connect Metro Manila with Central Luzon, Laguna, Batangas, Rizal, Quezon and Cavite once completed, the DOF said.
It said even the connection between provinces will be improved, with travel time between Cavite and Bataan, in particular, expected to be reduced to 45 minutes from five hours.
“The improved transport connectivity will promote deeper regional economic integration and spur economic activity within NCR, Calabarzon, and Central Luzon,” Finance Secretary Benjamin Diokno explained.
According to the PCO, the bridge, which is one of the Infrastructure Flagship Projects under the Build Better More program, will be constructed using low-carbon technologies and construction materials.
