The Philippines has signed a deal with the Export-Import Bank of Korea - Korea Eximbank – US$100 million loan. The 40-year loan will finance the Panguil Bay Bridge Project in Northern Mindanao.
According to a report in Business World, the project requires a total investment of around $103.6 million.
Panguil Bay is the narrow and shallow body of water between Lanao del Norte and Misamis Occidental. At its narrowest it is around 2km across.
Considered a major infrastructure development in Northern Mindanao, the Panguil Bay Bridge will connect Tangub City, Misamis Occidental and Tubod City, Lanao del Norte and reduce travel time between Tangub and Tubod from the usual 2.5 hours to just 7 minutes.
According to a report in Business World, the project requires a total investment of around $103.6 million.
Panguil Bay is the narrow and shallow body of water between Lanao del Norte and Misamis Occidental. At its narrowest it is around 2km across.
Considered a major infrastructure development in Northern Mindanao, the Panguil Bay Bridge will connect Tangub City, Misamis Occidental and Tubod City, Lanao del Norte and reduce travel time between Tangub and Tubod from the usual 2.5 hours to just 7 minutes.
