Aboitiz firm takes over Misamis Oriental airport upgrade
Aboitiz InfraCapital shall take over the Laguindingan Airport project under a public-private partnership scheme which will see AIC upgrade, expand, operate and maintain the airport over 30 years beginning 2025. Next to the Francisco Bangoy Davao International Airport in Davao, Laguindingan Airport is the busiest airport in Mindanao.
Laguindingan Airport
Wikimedia user Renzoy16, used under https://creativecommons.org/licenses/by-sa/3.0/deed.en
The upgrading of Laguindingan Airport at a cost of P12.75 billion, has been officially handed over by the Department of Transportation (DoTr) to Aboitiz InfraCapital (AIC).
AIC shall take over the Laguindingan Airport project under a public-private partnership (PPP) scheme which shall upgrade, expand, operate and maintain the airport over 30 years beginning next year.
The turnover was marked by a ceremony held 11 October in Laguindingan town, Misamis Oriental.
AIC president and chief executive officer Cosette Canilao said the modernization of Laguidingan Airport will result in a world-class airport.
Major step
“This project marks a major step in our airport platform and we are optimistic about pursuing other regional opportunities,” Canilao added.
The project involves enhancing both landside and airside facilities, installing major equipment and modernizing and expanding the passenger terminal.
Laguindingan Airport is the second busiest airport in Mindanao after Francisco Bangoy International Airport in Davao City.
For his part, AIC Vice President for Airport Business Rafael Aboitiz stated “we are grateful for the opportunity entrusted to us by DoTr and CAAP (Civil Aviation Authority of the Philippines). This project will also promote socioeconomic advancement in the region.”