Cebu’s Bus Rapid Transit project gets ICC nod-A A +A
Tuesday, November 27, 2012
CEBU CITY -- The Bus Rapid Transit (BRT) project of the Cebu City Government has been approved by the Investment Coordinating Council of the National Economic and Development Authority (Neda-ICC).
City Traffic Operations Management (Citom) executive director Atty. Rafael Yap told Sun.Star Cebu on Monday that the project was approved by the Neda-ICC last Wednesday.
The Neda-ICC, Yap said, endorsed the BRT project for approval by the Neda board, which is chaired by President Benigno Aquino III. The board will meet on November 29, he added.
Once the project is approved, Yap said, Cebu City will be allowed to negotiate with a foreign funding agency for a loan that will finance the BRT’s implementation.
The BRT is projected to cost P9.076 billion (US$212 million), which can be broken down as capital or physical cost (P6.694 billion or US$156 million), resettlement and land acquisition (P1.044 billion or US$25 million) and project management and coordination (P1.337 billion or US$31 million).
It will be jointly financed by Agence Francaise de Development (AFD) with $52 million; the World Bank at $110 million; Clean Technology Fund, a non-government organization (NGO) that deals with environment-friendly projects, $25 million; and the Philippine Government with $25 million.
With the endorsement of the Neda-ICC, Yap said the City is confident that the Neda board will also approve the BRT project.
In the initial plans, the BRT route will be from Bulacao, on N. Bacalso Ave., to Osmeña Blvd. then Escario St. and on to Talamban.
Project proponents hope to start its implementation in October 2013 so that the system will become operational by 2015. (PDF of Sun.Star Cebu)
Published in the Sun.Star Cebu newspaper on November 27, 2012.