Ths is how the Cebu-Mactan Bridge will look like. (CDN PHOTO/ JOSE SANTINO BUNACHITA)
The private proponent of the Cebu-Cordova Bridge project has formally signed the P27 billion deal with Cebu City and Cordova Friday afternoon.
Cebu City Mayor Michael Rama and Metro Pacific Tollways Development Corporation (MPTDC) President Rodrigo Franco signed the Joint Venture Agreement (JVA) at the Cebu City Hall’s Social Hall at past 4 p.m.
Around an hour earlier, Cordova Mayor Adelino Sitoy also signed the JVA with MPTDC.
The signing was supposed to be done simultaneously but Cebu City officials had some concerns on some of the JVA provisions which had to be settled before the actual signing.
In an interview, Franco said they’re happy that the agreement for the project was already signed.
“This would enable us to start working on the engineering aspects of the project. We already have the preliminary design. That’s how the bridge project will look like,” he told reporters.
Construction of the project is expected to start late this year or early 2018.
The project involves the construction, operation and maintenance of an 8.25-kilometer toll bridge that will connect mainland Cebu to Mactan Island through Cordova town.
It is set to be completed by 2020.