Korean bank to fund 15-km Samar Coast Road Project
The Department of Public Works and Highways (DPWH) and the Export-Import Bank of Korea (Kexim) have formalized their partnership to fund the 15-kilometer Samar Pacific Coastal Road 2 (SPCR 2) Project. The initiative aims to bridge the gap between Laoang island and mainland Samar, fostering development through strategic infrastructural advancements. Emil Sadain, senior undersecretary of DPWH, and Tae Bum-kim fund director of Korea Economic Development Co-operation, inked the crucial documents, marking a pivotal moment in the planning and financing of the SPCR 2 Project. The signing followed an appraisal mission conducted by the Kexim team of the proposed road alignment in the towns of Laoang and Palapag, Northern Samar, on Oct. 25 and Oct. 26. The SPCR 2 Project includes the construction of two vital bridges: the 800-meter Laoang 2 Bridge and the 605-meter Calomotan Bridge. These bridges are seen to enhance connectivity and facilitate smoother transportation between the islands.
