Aboitiz Group inches closer to securing airport project

The Aboitiz Group has cleared another hurdle in its bid to take over the Bohol-Panglao International Airport after complying with the conditions previously set by the government.

Transportation Undersecretary for planning Ruben Reinoso told The STAR in a text message that the Investment Coordination Committee-Cabinet Committee (ICC-Cabcom) of the National Economic and Development Authority (NEDA) has approved the unsolicited proposal of Aboitiz InfraCapital for the Visayas gateway.

Reinoso said the approved proposal includes the airport’s “operations and maintenance with P3.7 billion investments.”

With the ICC’s greenlight, the proposal will now have to secure one final approval – that of the NEDA Board – before it can proceed with the Swiss challenge.

The Department of Transportation endorsed last August to the NEDA-ICC Aboitiz Infracapital’s offer to upgrade, operate and maintain the Bohol-Panglao International Airport.

The proposal was among the airport projects which was earlier expected to be approved during the NEDA-ICC Cabinet Committee meeting last September.

While the proposal was discussed during the meeting, it failed to secure approval and instead was returned to the proponent for revision.

Reinoso earlier said the ICC expressed concerns about what appeared to be government guarantees for subsequent investment, and suggested the possible removal of the augmentation component in the offer.

Aboitiz InfraCapital is the holder of the original proponent status for the Bohol-Panglao International Airport, meaning that it has the advantage to match better offers once Swiss challenge is undertaken for the project.

The company said its proposed improvements to the airport would result in efficient passenger flow within the airport terminal, a better retail and dining experience, and increased flight destinations with reduced congestion.