28 October 2024
The Philippine Transportation Department (DOTr) has signed the 30 years ₱12.75 Billion Concession Agreement (Operations and Maintenance Contract) for Laguindingan airport with Aboitiz InfraCapital.
Aboitiz InfraCapital recently secured a “Notice of Award” for concession to upgrade, operate, and maintain the airport in Misamis Oriental from DOTr earlier this month.
The contract was signed by Secretary Jaime J. Bautista and Sabin M. Aboitiz, witnessed by President Ferdinand Marcos Jr. in Malacanang Palace.
The concession agreement calls for the building expansion of Laguindingan airport terminal to double the airport’s annual passenger capacity from 1.6 million to 3.9 million in the first phase of the concession, and 6.3 million by the end of the second phase, enhancing connectivity and supporting regional growth.
The privatization will also see the expansion of Laguindingan airport’s facilities, upgrades of terminals, and more efficient delivery of services to passengers.
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 Sec. Jaime Bautista noted that the privatization will open direct flights of other Asian carriers to Mindanao and vice versa, making Laguindingan airport an international aviation hub soon.
Aboitiz InfraCapital Inc manages Mactan-Cebu International Airport, and has also submitted an unsolicited proposal for similar concessions for airports in Bohol, Bicol, and Iloilo.
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