The Philippines Department of Public Works and Highways (DPWH) has signed a memorandum of agreement with three South Korean firms for providing consultancy services for the foreign-assisted Panguil Bay Bridge Project in Northern Mindanao.
The bidding was won by Yooshin Engineering, in a joint venture with Pyunhwa Engineering Consultants and Kyong-Ho Engineering & Architect, under the Philippines Government procurement programme.
The Panguil Bay Bridge project is a 3.48km two-lane bridge, which will establish connectivity between the city of Tangub in Misamis Occidental to the municipality of Tubod in Lanao del Norte.
The government expects that the PHP4.9bn ($96m) mega infrastructure project to accelerate and sustain economic growth in Mindanao regions by providing efficient and seamless transport of goods and services.
The project is being funded under a loan agreement with the Korean Economic Development Cooperation Fund (KEDCF).
As part of the deal, the companies will assist DPWH in conceptual design, preparation of bidding documents, design review, construction supervision, and post-construction supervision.
Last week, the Philippines Government has signed a grant agreement with the Chinese Government for its two Metro Manila Bridge projects.
The Chinese Government has agreed to provide funding for the construction of these bridges.