Mitsubishi Wins Bid For Panglao Airport Project

28 May 2015

Japan-based Mitsubishi Corporation in a joint venture with Chiyoda Corp. has won a 7.2 billion contract from the government of the Philippines to build Panglao Airport in Bohol. The New airport would replace Tagbilaran Airport as Bohol’s main gateway.

The airport construction, which involves the concrete pavement of a 2,000-meter international standard runway and erection of 1.7 million capacity passenger terminal building, will begin next month and is expected to be completed within 30 months or by December of 2017.

The new terminal building is expected to be 10 times bigger than that of Tagbilaran Airport, with a floor area of around 8,800 square meters.

Funding for the airport are mostly coming from Official Development Assistance (ODA) STEP laon from Japan International Cooperation Agency (JICA), where according to the loan grant only Japanese companies are allowed to bid. ODA loan is worth 10.8 billion yen (4.63 billion). The rest (2.6 billion) are shouldered by the Philippine government (GOP).

Tagbilaran Airport is the 11th busiest airport in the country in 2014 and served more than 800,000 passengers in 2014.

Airport masterplan can be found here.

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