Laguindingan International Airport concession agreement signed

MANILA, Philippines — President Ferdinand Marcos Jr. on Monday witnessed the signing of the Laguindingan International Airport Public-Private Partnership (PPP) project concession agreement, an initiative that proves his administration’ strong commitment to invest in the development of northern Mindanao.

“Witnessing the signing of this concession agreement is a reminder of what we are capable of doing, so long as we remain committed to this common goal – to help improve the lives of our people,” Marcos said during the ceremony held in Malacañang.

Opened in 2013, the Laguindingan International Airport, located between the cities of Cagayan de Oro and Iligan, serves as a major gateway to northern Mindanao. It is considered as Mindanao’s second busiest airport, catering to 1.6 million passengers annually.

The concession agreement, Marcos said, provides the government with an opportunity to expand the facilities, upgrade the terminals, increase the capacity and deliver services in a more efficient and more convenient manner.

“The improvement of the airport will significantly boost tourism, create jobs, increase business presence, and ultimately aid in achieving our goal of economic growth,” he said.

The project is spearheaded by Aboitiz InfraCapital Inc. (AIC) and the International Financial Corporation of the World Bank Group in partnership with the Department of Transportation.

“We welcome more players and investors who are equally dedicated to helping us deliver quality services to the Filipino people,” the President said.

He lauded the Civil Aviation Authority of the Philippines, the PPP Partnership Center and all concerned agencies and urged them “to remain on track in completing and implementing transportation projects” in the country.