DOTr endorses P61B worth of airport proposals
The Department of Transportation has endorsed to the Civil Aviation Authority of the Philippines (CAAP) two unsolicited proposals to develop and manage airports in Visayas and Mindanao that will require an investment of around P61 billion.
These proposals include businessman Dennis Uy’s revised offer to build and operate the Davao International Airport for P49 billion and Mega 7 consortium’s proposed P12 billion Kalibo International Airport.
Transportation undersecretary for planning Ruben Reinoso said CAAP is now going over the proposals and are expected to invite the proponents to a meeting.
Once the projects are deemed acceptable, CAAP will endorse it to the National Economic and Development Authority’s Investment Coordinating Committee.