Inauguration of the Panguil Bay Bridge Project (Speech) 9/27/2024

Tubod, Lanao Del Norte and Tangub City, Misamis Occidental
September 27, 2024
“We are here for the inauguration of the Panguil Bay Bridge Project - a day that we have long looked forward to…Years of planning, months of hard work, countless hurdles, and now we stand before the realization of one of the infrastructure flagship projects of this Administration,” President Ferdinand R. Marcos Jr. expressed when he inaugurated and officially opened the Panguil Bay Bridge Project on September 27, 2024.
Recognized as the longest sea-crossing bridge in Mindanao, this 3.169-kilometer landmark infrastructure crosses Panguil Bay and directly connects Misamis Occidental via Tangub City and Lanao del Norte via the Municipality of Tubod. It is seen to enhance connectivity and propel economic growth in Northern Mindanao.
“But more than just a physical bridge, we are connecting the dreams and aspirations of the people of Lanao del Norte and of Misamis Occidental…With this bridge, what once took two hours will now take seven minutes and will benefit more than 10,000 travelers a day,” the President said in his keynote message.
The project began with a pre-feasibility study in 1998, followed by several feasibility assessments and a comprehensive business case study before securing the National Economic and Development Authority (NEDA) Board approval in May 2015. The procurement phase was reached in 2018 after careful planning, multiple approvals and adjustments. Bids were evaluated and contracts were signed in November 2019, followed by the actual work on the design and building of the bridge on February 28, 2020. However, the project faced delays due to the pandemic and budget constraints.
“I want to acknowledge our partners in the Korean government and the Korean EXIM Bank - thank you very much. Your unwavering support has been instrumental in turning this dream into a reality…To the DPWH, Secretary Manny Bonoan, and all the people who committed to the completion of the Panguil Bay Bridge Project, your efforts are self-explanatory whenever we will cross this bridge or even see the picture of this bridge. You have shown once again that perseverance pays off,” President Marcos Jr. underscored.
Costing PhP8.026 billion, the Panguil Bay Bridge Project was carried out through a loan agreement funding signed in 2016 between the Government of the Philippines and Korean Export-Import Bank - Economic Development Cooperation Fund (KEDCF). The project was implemented by the Department of Public Works and Highways (DPWH) Unified Project Management Office - Roads Management Cluster II.
Marking the dawn of a new era in Philippine infrastructure development, the Panguil Bay Bridge used advanced Korean bridge technology and boasts of world-class design features.
“Let us make this success a launchpad for further development to ensure that this project opens new doors to progress and prosperity…It is just the beginning. We are building a Bagong Pilipinas - one where every Filipino, no matter how far, no matter how remote, is somehow connected,” President Marcos Jr. stated.
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