The possibility of constructing a bridge that will connect Cordova, Cebu to Bohol is being considered by Metro Pacific Investments Corp. (MPIC), headed by Manuel V. Pangilinan. The idea was proposed by Gov. Gwen Garcia, prompting MPIC subsidiary Cebu-Cordova Link Expressway Corp. (CCLEC) to announce that Metro Pacific Tollways Corp. (MPTC) is currently studying the feasibility of the project.
The proposed Cebu-Bohol bridge would link the two islands via Cordova or Olango Island and Getafe, a municipality in northern Bohol. However, the estimated cost of around ₱90 billion is a major consideration for the company, as financing the project is a significant challenge.
MPTC President Rodrigo E. Franco also expressed concerns about the viability of the project, given the high cost. The project was previously deemed “impossible” by the National Economic and Development Authority (NEDA) due to technological limitations, with an estimated cost of ₱52.62 billion and intended to be funded by an overseas development assistance (ODA) loan in 2019.
The development was announced by Allan Alfon, president of Cebu-Cordova Link Expressway Corp. (CCLEC), a subsidiary of MPTC. In a webinar hosted by Cebu-based newspaper The Freeman entitled “Building Back Better,” Alfon said that the Metro Pacific Tollways Corp. (MPTC) is now examining the probability of the project. “Feasibility study is ongoing,” he reiterated.
Both Pangilinan and Franco did not provide more details after. Metro Pacific Tollways Corp. (MPTC) President Rodrigo E. Franco mentioned that his office will look into the project and see how it can be commercially feasible for the group. “Viability is the issue because the project cost is high. We’re looking for ways to make that viable. If there are ways in the financing side to make it viable, we will look at it,” Franco said.