ABOITIZ InfraCapital Inc. (AIC), the infrastructure arm of the Aboitiz Group, is set to sign the P12.75-billion concession agreement for the operation and maintenance of Laguindingan Airport in Misamis Oriental by the end of October.
Last September 30, AIC, the original project proponent, received the notice award from the Department of Transportation (DOTr) and the Civil Aviation Authority of the Philippines.
The signing of the concession agreement is scheduled by the end of October.
“This deal marks another major step in our Airports Platform, and we remain optimistic as we pursue further opportunities with other regional airports. Together with the government, we are committed to making this vision a reality,” Cosette Canilao, AIC president and chief executive officer, said in a statement.
AIC’s investment in the Laguindingan Airport aims to modernize and transform the airport into a world-class gateway that will boost connectivity, tourism and economic growth in Northern Mindanao.
This will cover the airport’s passenger terminal building, required equipment installation, and airside and landside facility enhancement and development for a 30-year concession period.
AIC said these expansions are expected to enhance the passenger experience, improve operational efficiency, and elevate the airport’s safety and security standards, aligning with its vision of creating globally competitive airports that showcase the best of the Philippines.
Meanwhile, Jaime Bautista, DOTr secretary, said on Wednesday the government will turn over the operation and maintenance of the airport in the next four to six months, after the signing of the concession agreement this month.
AIC, through Aboitiz InfraCapital GMCAC, also currently operates the award-winning Mactan-Cebu International Airport, whose Terminal 2 recently received a 4-star rating from aviation consultancy Skytrax.
