A 27-billion peso deal has been signed between Cebu and Cordova for the third bridge project in the city.
The project was signed Friday between Cebu City and Cordova – Cebu City’s Mayor Michael Rama and Metro Pacific Tollways Development Corporation signed the joint venture agreement at Cebu City Hall.
About an hour before the official signing, Cordova’s mayor signed the agreement, all three were supposed to sign together in Cebu City Hall but city officials had a few concerns on the JVA provisions – those provisions were settled before the actual signing.
Construction of the project is expected to begin later this year. Some say the project won’t be started until early 2017 – the 29-billion peso project involves an 8.25km toll bridge that would connect Cebu to Mactan Island through the town of Cordova.
The project is said to be completed in 2020, but officials said that any delays to the start of the construction project would put its completion somewhere inside of a 2021.
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