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Panguil Bay Bridge project to be funded by Export-Import Bank of Korea-EDCF

Update.Ph

The national budget will fund PHP586 million of the total PHP4.9 billion cost for the construction of the pioneering Panguil Bay Bridge project in northern Mindanao, the Department of Budget and Management (DBM) said during the ceremonial signing today of the loan agreement between the Philippine Government and the Export-Import Bank of Korea-Economic Development Cooperation Fund (KEXIM-EDCF).

Considered a major infrastructure development in Northern Mindanao, the Panguil Bay Bridge will connect Tangub City, Misamis Occidental and Tubod City, Lanao del Norte and reduce travel time between Tangub and Tubod from the usual 2.5 hours to 7 minutes.

It will also significantly improve the travel time from Cagayan de Oro and Iligan to the cities of Tangub, Ozamiz, Oroquieta, Dipolog, and Dapitan in Zamboanga de Norte.… Continue Reading ...