P12.75B deal to revamp Laguindingan airport signed
Credit to Author: Jean Mangaluz| Date: Mon, 28 Oct 2024 12:44:00 +0800
MANILA, Philippines — Laguindingan International Airport will soon be seeing upgrades after the government signed a P12.75 billion project with Aboitiz InfraCapital Inc.
President Ferdinand Marcos Jr. oversaw the signing of the Public-Private Partnership (PPP) project concession at Malacañan Palace on Monday, October 28.
“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,” Marcos said at the signing.
The Laguindingan International Airport in Northern Mindanao is the gateway to many key places on the southern island.
“This vision can only be realized through our united efforts and steadfast commitment to work together, to work hand in hand. With that, this Administration extends our gratitude to the supportive and visionary partners in the private sector, particularly, Aboitiz InfraCapital Inc.,” Marcos said.
Marcos said that the upgrade of the airport will improve its capacity first, from 3.9 million passengers to 6.3 million. He also promised improved tourism, job creation, business presence and economic growth.
“To the officials and employees of the Department of Transportation, Civil Aviation Authority of the Philippines, the Public-Private Partnership Center, and all concerned agencies, I urge you to remain on track in completing and implementing transportation projects,” Marcos said.
Transport Secretary Jaime Bautista said that Aboitiz will now take over Laguinduingan Airport’s operations and maintenance for over 30 years.
The Department of Transportation said that some of Aboitiz’s responsibilities include reconfiguring terminal space, as well as the construction of the new Passenger Terminal Building.