Updated:2024-10-29 02:55    Views:95

READY FOR TAKEOFF Artist’s impression of future improvements in Laguindingan International Airport in Misamis Oriental. — PHOTO FROM ABOITIZ INFRACAPITAL

MANILA, Philippines — President Ferdinand “Bongbong” Marcos Jr. on Monday witnessed the signing of the concession agreement between the government and the private sector for the turnover of the operations, maintenance, and expansion of Laguindingan International Airport in Misamis Oriental.

Transportation Secretary Jaime Bautista and Civil Aviation Authority of the Philippines Director General Manuel Antonio Tamayo led the signing of the accord.

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The P12.7 billion deal was awarded to the Aboitiz infrastructure company.

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The agreement required the private consortium to incorporate into a Special Purpose Company, hence it obtained a new name — Infrastructure A6C Corporation.

A6C Corporation is the Special Purpose Company of sole proponent Aboitiz InfraCapital, Inc. for the project.

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Infrastructure A6C Corporation President Cosette Canilao signed the agreement on behalf of the private sector.

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It will take around four to six months before the Department of Transportation can officially turn over the airport to the infrastructure company, which needs to comply with post-awarding requirements first.

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The project encompasses facility upgrades, capacity expansion, installation of necessary equipment, enhancement of airside facilities, and comprehensive operations and maintenance services.

The first phase of the project aims to increase the capacity of the airport from the current 1.6 million passengers per year to 3.9 million.

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In his speech, Marcos said the deal is expected to boost tourism in the country and produce more jobs for Filipinos.

“With the influx of travelers in the Mindanao Region, the signing of this Concession Agreement for the Laguindingan International Airport – Public-Private Partnership Project provides us with the opportunity to expand the facilities, upgrade the terminals, augment capacity, and deliver our services in a safer, efficient and more convenient way,” he said.

“This also shows our commitment to invest in the development of Northern Mindanao,” he noted.

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

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The contract for the Laguindingan Airport will run for a period of 35 years.nextbet

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