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Results of SRP technical study “very promising”

July 22, 2009
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CEBU, Philippines: The Asian Development Bank through the Cities Development Initiative for Asia submitted yesterday the results of the six months technical study it made on several needed infrastructures at the South Road Properties.

Foreign consultants led by Peter Cumming, CDIA-SRP team leader, said that the results of the initial study are very promising as these entail provisions from both technical and organizational aspects.

“The results really are promising, it’s the nuts and bolts recommendations which are up for the city to take,” Cumming, the one responsible for the master plan of Dubai City, said.

CDIA, he also said, is negotiable for further planning, engineering and financing.

“Now is the time that developers are starting to make a commitment at the SRP, so it is best to have these provisions from roads, to water to power,” Cumming added.

He said that their recommendations include an open space for parks and the green technology like the dual water system and the district cooling.

Cebu City administrator Francisco Fernandez said that in the next two weeks, the city government will decide which among the recommendations will be considered.

As to the organizational structure, Fernandez said it is included among the recommendations to be considered.

He said the SRP Project Monitoring Office is “applicable for today”.

“Who knows in the next 20 years, so we may consider a private entity or a corporation to look after the SRP,” Fernandez said.

He also said that the city is just grateful that they had availed of world-class advices from world-class consultants.

In the next months, the city may opt to proceed with CDIA’s Phase II, involving detailed studies prior to the implementation stage.

Last year, the City Council authorized Mayor Tomas Osmeña to sign the Technical Assistance Agreement with the CDIA.

Osmeña was authorized by the Council through SP Resolution No. 08-329 dated August 13, 2008 to seek assistance from the ADBank through its CDIA for project development and financial structuring of the SRP.

On August 26, CDIA approved the request for technical assistance in the amount of $499,000.

Source: Philippine Star – http://www.philstar.com/Article.aspx?articleid=462351

Ferliza C. Contratista/MEEV (THE FREEMAN)

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