Koronadal to build P230M transport terminal

KORONADAL CITY (MindaNews / 9 July) – The city government is targeting to start before yearend the ground works for the construction and development of the city’s P230-million modern integrated transport terminal complex.

Marloun Gumbao, city treasurer’s office chief, said Wednesday they are currently processing the requirements for the ratification by the city council of the local government’s P150-million loan with the Land Bank of the Philippines (LBP) for the project.

After the ratification of the loan agreement, he said they will immediately schedule its formal signing with LBP officials.

“After the signing of the loan agreement, we will proceed with bidding and awarding of the project contract and the implementation phase,” he said in a radio interview.

Gumbao said City Mayor Peter Miguel has been pushing for the early ratification and signing of the loan contract to facilitate the immediate implementation of the project.

He said the mayor is personally monitoring the progress of the processes involved in the release of the loan, especially the compliance of the requirements for its ratification.

He said Miguel wants the processes fast tracked but at the same time fully compliant with government policies and regulations.

“So far, I think we’re still on track with our target in terms of starting its construction phase before the end of the year,” Gumbao said.

In April, the LBP’s monetary board endorsed the city government’s application for the project’s financing at a maximum loanable amount of P560 million.

But the local government only sought for a P150-million loan or P80 million short of the project’s estimated cost based on its current financial capacity.

Miguel obtained last year an authority from the city council to negotiate a loan with the LBP for the construction of the terminal complex in Purok Yellow Bell, Barangay Sta. Cruz.

The city government acquired last year a 5.9-hectare lot worth P40 million for the proposed transport terminal project’s site.

The mayor said the LBP loan will specifically be utilized to fund the construction of the main terminal building and related structures as well as the installation of the necessary amenities within the complex.

The proposed integrated terminal’s main building was designed to cover two hectares and the rest of the site will serve as buffer area or spot for future developments.

It will adopt the “green” concept in terms of architecture and facilities, specifically the use of natural ventilation, natural lighting (skylight) and energy-efficient light-emitting diode or LED lights.

The facility will also provide adequate green open spaces and the design would ensure the preservation and integration of the land’s existing natural water bodies and features.

URL: http://www.mindanews.com/top-stories/2014/07/09/koronadal-to-build-p230m-transport-terminal/

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