BIZ BUZZ: Aboitiz Group to ink Bohol airport deal

Aboitiz InfraCapital Corp. (AIC) is set to finally ink the concession agreement to develop the Bohol-Panglao International Airport on Dec. 18, or a month after it was awarded the major infrastructure project.

Cynthia Hernandez, Public-Private Partnership Center of the Philippines executive director, disclosed the tentative date of signing recently.

Following this, she said the airport operation and maintenance would be transferred officially to AIC by March next year.

The company said it would expand airport capacity to 2.5 million passengers a year within one to two years of its airport operations from the current 2 million.

The P4.53-billion airport project, which has a 30-year concession period, covers the construction of a new passenger terminal and installation of additional equipment and facilities.

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This is the second airport contract that the Aboitiz Group won this year. In October, AIC also secured the Laguindingan International Airport project.

Prior to securing both projects, AIC also bought the Mactan-Cebu International Airport from a consortium led by Megawide Construction Corp.