September 28, 2024 | 12:00am
MANILA, Philippines — President Marcos inaugurated yesterday the P8.03-billion Panguil Bay Bridge, which reduces travel time between Misamis Occidental and Lanao del Norte provinces from about two hours to only seven minutes.
The President, accompanied by First Lady Liza Marcos, toured the 3.17-kilometer bridge before leading the ribbon-cutting ceremony.
Funded through a loan agreement between the Philippine government and the Korean Export-Import Bank (Korea Eximbank), the bridge connects Tangub City in Misamis Occidental and Tubod town in Lanao del Norte.
It is the longest sea-crossing bridge in Mindanao.
“We waited for this for such a long time. If I had a peso for every time someone asked me, ‘When will we finish the Panguil Bay Bridge?’ I would already be able to fund a second bridge by now,” the President said in his speech in Tubod, noting it took decades before the bridge was constructed.
“We all know that the increased economic activity is going to be an important development building block for both the provinces and the entire island of Mindanao,’’ he added.
The project was conceptualized in 1998, but the actual work on the design and building of the bridge started only on Feb. 28, 2020. It also faced delays due to the COVID-19 pandemic and budget constraints.
“With this bridge, what once took two hours will now take seven minutes and will benefit more than 10,000 travelers a day,” Marcos said.
He noted that small entrepreneurs, like Erlinda Mojica, previously had no choice but to take the long route around Panguil Bay, slowing down the delivery of their goods and farm products.
“With the opening of the bridge, she expressed her excitement, saying that her goods would now reach the market in minutes (instead) of hours, alleviating her worries about spoilage and missed sales. Iyong mga saging hindi na magiging ketsup (the bananas will no longer become catsup),” Marcos said.
Also present at the inauguration were South Korean Ambassador Lee Sang-hwa, Public Works and Highways Secretary Manuel Bonoan, Defense Secretary Gilbert Teodoro, Presidential Peace Adviser Carlito Galvez Jr., Misamis Occidental Gov. Henry Oaminal and Lanao del Norte Gov. Imelda Dimaporo.
In his remarks, Lee said the Panguil Bay Bridge is a powerful symbol of progress and a testament to the enduring partnership between South Korea and the Philippines.
During his first visit to Mindanao in March, Lee said he was captivated by the region’s immense potential, but the key missing element was connectivity.
He said the bridge would be instrumental in the government’s peace efforts in the region.
“While it may simply be a piece of infrastructure, it is also a bridge of opportunity, progress and peace,” Lee said.
In June, the National Economic and Development Authority Board, chaired by Marcos, approved the P650.89-million increase in the total cost of the project from P7.38 billion to P8.03 billion.
The Panguil Bay Bridge is one of the 198 high-impact priority infrastructure flagship projects under Marcos’ “Build Better, More” program.
Marcos said that apart from the Panguil Bay Bridge, the Economic Development Cooperation Fund of Korea is also involved in 21 ongoing and two upcoming projects in the country.
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