An additional P8.48 billion is needed to complete the Jalaur River Multipurpose Project Stage II (JRMP II) in the town of Calinog, Iloilo, according to the National Irrigation Administration (NIA), the project’s implementing agency.
The project, which originally costs P11.2 billion, is being undertaken by the contractor Daewoo Engineering and Construction Co. Ltd. The construction of the mega dam started in 2018 and is expected to be completed by December this year.
JRMP II Project Management Office Manager Jonel Borres said the additional amount has already been approved by the National Economic and Development Administration (NEDA) Board chaired by President Ferdinand R. Marcos Jr.
In a report by the Philippine News Agency (PNA), NIA spokesperson Steve Cordero said the increase was requested by the contracted due to, among others, higher costs of construction materials and labor.
“All these, the inflation, delay in the implementation, processes, and requirements are the reason why we have an increase in cost. The big factor is inflation due to the cost of materials and the exchange rate because our official currency in the loan is US dollars. The exchange rate when the loan was approved was P43 (for 1 USD), but by the time we implemented it, we were already at P50 plus,” he explained.
The mega dam, as of July this year, is 68.56 percent, based on a report presented by Borres during the special meeting of the Infrastructure Development Committee (IDC) of the Regional Development Council (RDC) on Monday, July 31.
“We are almost on the target despite the typhoon and rain,” he said.IMT
