MANILA — Regional growth, job generation, and investments await Northern Mindanao after the Department of Transportation (DOTr), Civil Aviation Authority of the Philippines (CAAP), and Aboitiz InfraCapital (AIC) signed on Monday the concession agreement for the rehabilitation and modernization of the Laguindingan International Airport.
President Ferdinand R. Marcos Jr. witnessed the signing of the Laguindingan International Airport Public-Private Partnership (PPP) Project Concession Agreement in a ceremony in Malacañang.
“The signing of this Concession Agreement for the Laguindingan International Airport Public-Private Partnership Project provides us with the opportunity to expand facilities, upgrade the terminal, augment capacity, and deliver our services in a safer, efficient, and more convenient way,” Pres. Marcos said.
Transportation Secretary Jaime J. Bautista said the transformation of the Laguindingan International Airport is expected to promote regional development and create jobs and investments.
“Like other airport development projects, Laguindingan’s transformation should promote regional growth, generate jobs and livelihood, and create investment opportunities,” Sec. Bautista said.
The transport chief said the airport’s PPP Project forms part of the government’s airport upgrade and expansion program, while enhancing passenger comfort and experience.
Serving as Northern Mindanao’s main gateway since 2013, the Laguindingan International Airport’s operations and maintenance will be turned over to the Aboitiz InfraCapital for over a 30-year period.
Under a PPP scheme, the concessionaire will upgrade, expand, operate, and maintain the airport as well as undertake two phases of capacity augmentation to meet increasingly demand.
The concession agreement also involves the reconfiguration of existing terminal space to improve processing capacity, construction of new Passenger Terminal Building (PTB) as well as maintenance and repair. (DOTr)
