US$15-B Bridge Project To Connect Visayas Islands

AG&P Industrial and Visayas NECEBOLEY Interlink Holdings Corporation (VNIHC) have signed an exclusive Memorandum of Understanding (MoU) to collaborate on the ambitious US$15 billion National Economic & Development Authority's (NEDA) Mega Infrastructure Project, known as Project NECEBOLEY.

Project NECEBOLEY, is a US$15B infrastructure endeavor linking Negros Oriental, Cebu, Bohol, and Southern Leyte through a network of bridges and expressways. | Image: NECEBOLEY

This project aims to connect four major islands in the Visayas region through a network of all-weather bridges and expressways.

AG&P Industrial, a subsidiary of the AG&P Group, is a leading engineering, procurement, fabrication, construction, installation, and commissioning (EPFCIC) company. With decades of experience in infrastructure development, AG&P Industrial will serve as the technical partner and EPC contractor for Project NECEBOLEY, contributing expertise and resources to ensure successful implementation.

Visayas NECEBOLEY Interlink Holdings Corporation (VNIHC), a leading real estate and property development company, has been granted Original Proponent status by the provincial governments of Negros Oriental, Cebu, Bohol, and Southern Leyte to develop Project NECEBOLEY under the Public-Private Partnership (PPP) framework.

This status allows VNIHC to work closely with the local governments to plan, develop, and implement the project.

The project's goal is to build a 238.05 km network of bridges and expressways, linking the major islands of the Visayas region. The first phase of Project NECEBOLEY involves constructing and operating these bridges and toll roads.

The second phase will focus on land reclamation and the development of 568 hectares for residential, commercial, industrial, and tourism-related purposes.

AG&P Industrial's technical expertise and experience in infrastructure development are expected to play a pivotal role in realizing Project NECEBOLEY's vision.

As part of the agreement, AG&P Industrial will be involved in pre-proposal conferences, post-award meetings, and other technical assistance during the project's planning and execution stages.

VNIHC Chairman Mr. Angel Pio E. Veloso Jr. expressed his enthusiasm for the partnership, highlighting the significance of Project NECEBOLEY in boosting industrialization, urbanization, and foreign investment in the Visayas region.

He also emphasized the project's potential to transform the region into a thriving business hub, driving socio-economic development.

“We are thrilled to have AG&P Industrial as our technical partner and EPC contractor to contribute its expertise, experience, and resources in infrastructure development and project management to support the successful implementation of this critical project, including enabling a global consortium of partners. AG&P Industrial will also have the option to an equity interest in VNIHC through a separate definitive agreement," said Veloso.

AG&P Industrial President Mr. Alex Gamboa echoed these sentiments, stating that "the partnership represents a unique opportunity to create a landmark infrastructure project that will improve connectivity and enhance the quality of life for millions of Filipinos in the Visayas region."

"We are privileged to partner with VNIHC for Project NECEBOLEY that will lay the Philippines' iconic infrastructure for interconnectivity by land within the region, solving for access across Visayas. Pivotal to the country's economy, Project NECEBOLEY will transform Visayas into a thriving business hub and accelerate socio-economic development, improving the lives of millions of Filipinos," added Gamboa.

With work set to commence in Q2 2024, Project NECEBOLEY is poised to become a transformative infrastructure initiative, creating lasting benefits for the people and economy of the Visayas region and the Philippines at large.