Panguil Bay Bridge, a 3.48 km bridge connecting Misamis Occidental and Lanao del Norte, will start this year, DPWH Secretary Mark Villar announced in his Facebook page on January 4.

The Department of Budget and Management (DBM) said that the national budget will fund PHP586 million of the total PHP4.9 billion cost for the construction of the said bridge.

To recall, the Philippine government announced last year that it signed a $100.13-million loan from Export-Import Bank of Korea (Korea Eximbank) for Panguil Bay Bridge.

Last September 21, CDOdev.com reported that Korean consultants and engineers had been observed conducting ocular inspection of the site of the Panguil Bay Bridge Project connecting Tangub City in Misamis Occidental to the municipality of Tubod in Lanao del Norte in Northern Mindanao.

Here's how our government and the Korean Economic Development Cooperation Fund (KEDCF) allocate funding for the Panguil Bay Bridge that will connect the city of Tangub in Misamis Occidental to the municipality of Tubod in Lanao del Norte. Project is estimated to be finished by 2019.

The project billboard had been installed as early as July 2017.

The Panguil Bay Bridge will connect Tangub City, Misamis Occidental and Tubod City, Lanao del Norte and reduce travel time between Tangub and Tubod from the usual 2.5 hours to 7 minutes.

DPWH seals Consultancy Deal for Panguil Bay Bridge Project. Funded under loan agreement with Korean Economic Development Cooperation Fund (KEDCF), the ₱4.9-billion mega infrastructure project is expected to accelerate and sustain the economic growth in Mindanao regions by providing efficient and seamless transport of goods and services.