The construction of the Panguil Bay Bridge in Northern Mindanao has achieved a significant milestone as its completion rate exceeded over 50%, the Department of Public Works and Highways (DPWH) said Wednesday.
In a statement, the DPWH said the 3.17-kilometer bridge project now has an overall accomplishment rate of 69%.
The P7.37-billion Panguil Bay Bridge project will connect Tangub City, Misamis Occidental, and Tubod, Lanao del Norte.
The bridge is seen to reduce travel time between the two provinces to seven minutes from the two hours to two and a half hours of land travel through Panguil Bay Road or the one hour and 30 minutes via roll-on, roll-off vessels operating from Ozamiz City to Mukas Port.
It is also expected to boost the local economy in Northern Mindanao.
DPWH Senior Undersecretary Emil Sadain, in charge of the agency's flagship infrastructure projects under “Build, Better, More,” said that the inter-island bridge project aims to attain 90% completion by December 2023, 95% by March 2024, and be open to vehicular traffic by June 2024.
The project is being funded by a loan agreement between the Philippine government and the South Korean government through the Economic Development Cooperation Fund. —VBL, GMA Integrated News