The Aboitiz Group is investing P3.8 billion for the operations and maintenance of Bohol-Panglao International Airport, according to the Department of Transportation.
The project involves the operations and maintenance of BPIA including the initial enhancement and installation of internal fit-outs of existing facilities (Phase 1 from 2020 to 2021) and the optimization and reconfiguration as dictated by traffic demand (Phase 2 from 2026 to 2027).
The National Economic and Development Authority board chaired by President Rodrigo Duterte gave the green light after earlier revisions on the proposal were made.
NEDA’s Investment Coordination Committee-Cabinet Committee approved on Nov. 6 the unsolicited proposal for the airport’s O&M under a 25-year concession period.
Under the unsolicited proposal submitted to the DOTr, the Aboitiz Group will serve as the concessionaire through infrastructure arm Aboitiz InfraCapital Inc.
NEDA said the project would still be subjected to a Swiss challenge where other parties could challenge AIC’s bid. AIC may then match the best bid from challengers.
The Panglao-based international airport is also known as the “Green Gateway to the World” for harnessing green technology and environmentally-sustainable structures.
Transportation Secretary Arthur Tugade said the green-lighting of the BPIA O&M project would help boost regional economic growth and tourism in Bohol, in consonance with the thrust of the “Build, Build, Build” program of the Duterte administration.
“It is our hope that this new airport will help propel development in Bohol and the rest of the Visayas,” said Tugade
Public Works Secretary and Infrastructure Cluster head Mark Villar supported NEDA board’s decision to approve the Aboitiz Group’s proposal.
“This is a very positive development as far as fast-tracking our infrastructure backlogs is concerned. This is for our kababayans in the Visayas. This is for the entire Filipino people,” Villar said.