THREE Korea-funded infrastructure projects are hitting snags—from release of funds to delays in schedule, documents from the National Economic and Development Authority (Neda) revealed.

The document noted that only the Gapan-San Fernando Olongapo Road Expansion (GSO-RE) Project “shows signs of improvement in implementation” compared with the Laguindingan International Airport Development and the Northrail-Southrail Linkage projects (NSLP).

“In general, the portfolio is performing below the overall GOP ODA [Government of the Philippines Official Development Assistance] portfolio average in almost all indicators,” the Neda document said.

It said that while the GSO-RE project is “beyond midterm and with utilization rate of only 42 percent,” it has the highest annual disbursement rate of 354 percent.

The other two projects in the Korean loan portfolio are “already implementing under an extension period” and “have utilization rates of below 50 percent.”

The $31.86-million GSO-RE project already tapped into a $22.3-million loan via the Korean Development Cooperation facility in 2006.

The project that involves widening of  road, reconstruction of the Santa Cruz bridge, and river dredging works in the Porac Gumain River, was originally scheduled implemented in 2005 and completed by 2008.

The project is being implemented by the public works  department and is expected completed by 2010.

According to the Neda document, the project is 12.2-percent complete “with a negative slippage of 2.83 percent” as it hit seven problems, including revision of the design for the bridge, insufficient delivery of materials by the contractor, and Typhoon Emong.

Meanwhile, the expected completion of the $167.09-million Laguindingan Airport in Cagayan de Oro City was also moved to 2012 from its original project implementation end of 2002.

But except for the construction of a 4-kilometer access road to the highway, the project is ahead of schedule for the building of the main airport, the 380-meter access road, and of the temporary perimeter fence, as of end-May.

The Neda document cited that the deed of donation for the last 94.39 hectares of the total 387.29 hectares for the main airport site was finalized by the Ayala Foundation Inc. and was already forwarded to project implementer Department of Transportation and Communications.

But while the acquisition for the access road is complete, titling is still ongoing.

The third project, Phase 1 of the Northrail-Southrail Linkage, is nearly 67-percent accomplished with a negative slippage of above 15 percent.

While the P4-billion project’s rolling stock component is ahead of schedule, the civil works component is behind by nearly 39 percent.

Nonetheless, the first diesel multiple unit (DMU) train set arrived from Korea in March and five other DMUs should have arrived this month.

The NSLP-I involves the rehabilitation of old tracks from Caloocan to Alabang, as well as the reconstruction of the Paco Station, among others.

Testing of the trains will be from Tutuban up to at least the Food Terminal Inc. area and expected to take about 10 hours a day, the document cited.

As of March, the Korean ODA portfolio in the country amounts to about $175.32 million, involving three loans with a  total loan commitment of $164.92 million or 2 percent of the overall GOP ODA loan portfolio of $7.705 billion.