THE takeover of the operations and maintenance of the Bohol Panglao International Airport (BPIA) in Panglao town has officially been forged.
In a formal ceremony at the Kalayaan Hall in Malacañang, Manila, President Ferdinand Marcos, Jr. and Aboitiz Group CEO Sabin Aboitiz led the signing of the concession agreement for the takeover.
Accordingly, the goal of Aboitiz Infra-Capital (AIC) is to transform the six-year-old airport into a “world-class” gateway.
Under the P4.53-billion concession agreement, AIC will undertake the airport’s development and modernization over a 30-year period after the official turnover in 2025.
The BPIA’s capacity will be increased to 3.9 million passengers annually from the current 2 million in two construction phases.
The project will also include the construction of a new passenger terminal and installation of additional equipment and facilities.
“With this investment, the [BPIA] will be modernized. Its capacity will be expanded and its passenger service experience will be significantly improved,” said Aboitiz.
“We may have the most beautiful beaches in the world and f the concession agreement for its takeover the most beautiful islands and resorts in the world, but you need good airports to get there,” he added.
Governor Aris Aumentado, first district Rep. Edgar Chatto, second district Rep. Vanessa Aumentado, and third district Rep. Alexie Tutor were in attendance as witnesses to the ceremony.
