Aboitiz InfraCapital Inc. has committed to shell out P3.8 billion for the operations and maintenance (O&M) of the Bohol-Panglao International Airport.
The P3.8 billion project, which involves the improvement of existing facilities, has secured approval from the NEDA board for a concession period of 25 years.
The proposal will be subjected to a Swiss challenge wherein other firms may submit a counter offer. AboitizInfraCapital may then match the best bid from challengers.
Transportation Secretary Arthur Tugade said the project would aid in boosting regional economic growth and tourism in Bohol in line with the Duterte government’s “Build, Build, Build” program.