In order to boost the economic growth of Mindanao, the Duterte administration has given the go-signal for the construction of the Korean-funded Panguil Bay Bridge.
This 3.48-kilometer, two-lane bridge will connect Tangub City in Misamis Occidental to the municipality of Tubod in Lanao del Norte and is estimated to cost Php 4.9 billion.
The capital to be used for the construction of the Panguil Bay Bridge Project will come from the loan agreement with the Korean Economic Development Cooperation Fund (KEDCF).
In line with this project, the Department of Public Works and Highways (DPWH) has secured the consultancy services of three Korean firms –Yooshin Engineering Corporation, Pyunhwa Engineering Consultants Ltd., and Kyong-Ho Engineering & Architect Co. Ltd.
Working together in this project via a joint venture, the three companies won the project after going through a competitive bidding process under the Philippine government procurement program.
The DPWH, represented by Undersecretary Emil K. Sadain, led the signing of the memorandum of agreement (MOA) stipulating that the Korean consultants shall assist the Department in conceptual design, preparation of bidding documents, design review, construction supervision, and post-construction supervision starting June 2017.