Monday, October 8, 2012

Philippines to Build 9,000 Classrooms Worth 16 Billion Pesos

The Department of Education (DepEd) on Monday signed two contracts worth P16.28 billion for the construction of at least 9,000 classrooms under the Aquino administration's public-private partnership program.

The Deped awarded the contract to design, build and maintain 2,157 classrooms in Region 1 to BF Corp. and Riverbanks Development -- companies owned by former Metro Manila Development Chairman Bayani Fernando.

Meanwhile, Citicore Investment Holdings and Megawide Construction Corp. was awarded the contracts for a total of 7,144 classrooms in Regions III and IV for P12.83 billion.

The contract packages are under the Deped's Public Private Partnership for School Infrastructure Project (PSIP) - I program.

During the signing ceremony at the Deped main office in Pasig City, Education Secretary Armin Luistro said he expected the turnover of projects before the start of opening of classes in June next year.

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