The Third Bohol Bridge, also known as the Panglao-Tagbilaran City Offshore Bridge Connector (PTCOBC) or the third Tagbilaran–Panglao Bridge, is a P10-billion plus, 1.03-kilometer, four-lane cable-stayed offshore bridge project designed to connect Tagbilaran City on mainland Bohol to Panglao Island. (photo from screenshot of Rogelio Casal Jr.’s video footage)
By DAVE SUAN ALBARADO
A critical infrastructure project linking Panglao Island to mainland Bohol has come under intense scrutiny after cost estimates revealed the bridge would be approximately three times more expensive per kilometer than comparable projects nationwide.
The Panglao-Tagbilaran City Offshore Bridge Connector (PTCOBC), commonly known as the “third bridge,” now carries a reported total cost of P10.78 billion for just 1.03 kilometers of main span construction, translating to P10.43 billion per kilometer — much higher than similar infrastructure projects across the country.
By comparison, the 3.17-kilometer Panguil Bay Bridge in Mindanao cost P8.02 billion total, or P2.53 billion per kilometer, while the technically complex 8.90-kilometer Cebu-Cordova Link Expressway cost P30 billion, or P3.37 billion per kilometer.
The PTCOBC’s unit cost is more than four times that of Panguil Bay and more than three times that of CCLEX.
The cost discrepancy becomes more striking given that the project’s Approved Budget for contract (ABC) in the live bidding phase was set at only P7.15 billion for the main span, according to project documents.
The P3.63 billion gap between the ABC and the reported total cost remains unexplained, with officials yet to provide detailed breakdowns of where the additional funding would be allocated.
PROJECT HISTORY AND EVOLUTION
The third bridge project has undergone dramatic transformations since its inception in 2018 under then-Gov. Edgar Chatto, who initially envisioned it as part of a practical solution to traffic congestion between Tagbilaran City and Panglao Island, home to the Bohol-Panglao International Airport.
The project’s original 2018 baseline design called for a 2.60-kilometer “functional connector” with an official cost of P4.40 billion, or P1.69 billion per kilometer. This represented the full corridor concept before subsequent rebranding and scope changes.
In 2022, during what has been termed the “China Grant Era,” the concept evolved into an iconic cable-stayed bridge spanning 2.70 kilometers with an updated cost of P6.95 billion, or P2.57 billion per kilometer — a 58% increase from the original estimate.
Chinese funding was initially secured for the project during this phase.
However, escalating tensions in the West Philippine Sea led to the withdrawal of Chinese support, sending the project into limbo and forcing Bohol officials to seek alternative financing.
In 2024, under what the province termed the “French ODA Pivot,” the project underwent another major scope reduction.
The plan shifted to constructing only the main 1.03-kilometer span of a cable-stayed bridge, with approaches excluded and to be built using local funds.
The official cost was listed at P7.05 billion, or P6.84 billion per kilometer — representing a 145% increase in unit cost from the original 2018 baseline.
Now in 2026, the project has entered the “live bidding” phase with a total reported cost of P10.78 billion, though only the P7.15 billion main span is included in the bidding ABC.
The remainder — P3.63 billion — has been flagged as an “unaccounted gap” by infrastructure watchdogs, with questions raised about whether Phase 1 approaches, already reportedly funded at P801 million, are being double-counted or if new cost overruns have emerged.
FRENCH FINANCING AND RECENT DEVELOPMENTS
On Feb. 6, 2026, a French government delegation led by Marc Reynal, director of the Development Centre for Studies and Expertise on Risks, Environment, Mobility and Planning, visited Bohol to formally assess the project and commit to financing through a preferential loan facility.
Aumentado expressed enthusiasm about the French commitment, calling it “light at the end of the tunnel” for a project that has faced repeated delays since 2018.
“The third bridge is critical infrastructure that will decongest traffic between mainland Bohol and Panglao Island,” Aumentado said in a statement. “Those going to Bohol-Panglao International Airport who have no business in Tagbilaran City will no longer be delayed because of this alternative route.”
Reynal reportedly expressed satisfaction with the project assessment, saying he saw no problems with potential implementation.
The French government has committed an estimated P7.115 billion through a soft loan facility for the 1.03-kilometer, four-lane main bridge span.
Provincial Planning and Development Office chief Atty. John Titus Vistal said the project would ease traffic and support farmers in their travels, noting it would be “one of the strongest bridges in the province.”
The project received approval from the National Economic and Development Authority board on Dec. 17, 2024.
Construction is projected to take 36 months once it begins, with two approach segments already completed.
COST ANALYSIS AND COMPARISONS
Infrastructure analysts point to several factors that could legitimately increase construction costs, including site-specific geological conditions, environmental requirements, design complexity, and financing terms.
However, the magnitude of the differential has raised eyebrows among budget watchdogs and engineering experts.
The PTCOBC is described as having “medium complexity” and located in Bohol, while the CCLEX was characterized as having “extreme complexity” as a private-sector toll road connecting two major urban centers in the Visayas.
The Panguil Bay Bridge, funded through official development assistance, spans a longer distance across open water.
Engineering specifications show the PTCOBC will be a cable-stayed design, similar to portions of the CCLEX and the Panguil Bay Bridge, all requiring specialized construction techniques and materials.
However, the PTCOBC’s shorter span and less complex approach conditions would typically suggest lower per-kilometer costs, not higher ones.
The project’s cost trajectory shows a 145% escalation in per-kilometer pricing from the 2018 baseline to the 2024 French ODA pivot, followed by an additional 52% increase to the current 2026 total reported cost. Combined, this represents a 517% increase in unit costs over eight years.
FUNDING BREAKDOWN AND GAPS
According to project documentation, the current financing structure includes:
— Main span ABC for bidding: P7.15 billion
— Total reported project cost: P10.78 billion
— Unaccounted gap: P3.63 billion
Provincial Legal Officer Atty. Handel Lagunah confirmed that Reynal met with undersecretaries from relevant agencies and potential contractors involved in construction management.
However, no official has publicly explained the P3.63 billion discrepancy between the bidding ABC and total reported costs.
Questions remain about whether this gap includes:
— The P801 million in Phase 1 approaches already funded and reportedly completed
— Additional scope not included in the main span bidding
— Contingencies, consultant fees, and project management costs
— Land acquisition and right-of-way expenses
— Inflation adjustments and currency exchange factors in the French loan terms
BACKGROUND
While Chatto initiated the project and worked through multiple iterations and funding sources during his tenure as governor and later as congressman, the project’s current phase falls squarely within Aumentado’s administration, which took office in June 2022.
Aumentado has actively pursued the project’s completion, making multiple follow-ups with national agencies alongside DPWH First District officials to secure funding after construction stalled.
His administration was in office when NEDA approved the project in December 2024 and when the French financing was finalized in early 2026.
Critics have questioned why cost escalations were not more rigorously challenged, particularly given that the current unit cost is triple that of comparable nationwide projects.