October 29, 2024 | 12:00am
MANILA, Philippines — The government and Aboitiz InfraCapital Inc. yesterday signed a 30-year concession deal for the Laguindingan International Airport public-private partnership project, the first unsolicited proposal awarded by the Department of Transportation under the present administration.
President Marcos witnessed the signing of the agreement that will allow Aboitiz InfraCapital to take over the operation of the Laguindingan airport in Misamis Oriental during the concession period.
The company is expected to upgrade, expand, operate and maintain the airport in two phases to meet increasing demand.
Deliverables involve reconfiguration of existing terminal spaces to improve processing capacity, construction of a new passenger terminal building, and maintenance and repair to expand airport capacity.
The project is expected to increase the airport’s annual passenger capacity from 1.6 million to 3.9 million in the first phase and to 6.3 million by the end of the second phase. It is estimated to cost P12.75 billion.
Marcos said the signing of the concession deal shows the administration’s commitment to develop Northern Mindanao.
The agreement was signed by Transport Secretary Jaime Bautista, Civil Aviation Authority of the Philippines Director General Manuel Tamayo and Cosette Canilao, president of A6C Corp, Aboitiz InfraCapital’s special purpose company for the project.
Be the first to comment