BCDA initiates Poro Point intl airport project 

The government has tapped Netherlands-based Rebel Group International BV as transaction adviser for the public-private partnership (PPP) program to develop an international airport inside the Poro Point Free Port Zone. 

 

At a press briefing Wednesday, Bases Conversion and Development Authority (BCDA) president and chief executive Arnel Paciano Casanova said the agency has “secured funding support for the engagement of Transaction Advisory Services for the planned” Poro Point San Fernando Airport in La Union. 

 

Rebel Group International will lead a six-month feasibility study, which aims to find identify the most viable type of contract for the project, Casanova said. 

 

The BCDA is open to any type of contract under the Build-Operate-Transfer law for the Poro Point San Fernando Airport PPP, including build-lease-transfer agreement or even an operations-and-maintenance contract, he added. 

 

Last October, PPP Center, the agency in-charge of reviewing the flagship PPP program, agreed to help BCDA find a suitable adviser through the Project Development Monitoring Fund (PDMF). 

 

The PDMF – bankrolled by multilateral grants and the National Treasury – provides funding support for PPP projects proposed by various government agencies. 

 

When the study is completed, the Poro Point San Fernando Airport PPP will be submitted for approval by the Investment Coordination Committee-Cabinet Committee (ICC-CabCom) of the National Economic and Development Authority. 

 

If approved, the project will undergo final scrutiny before being put forward for President Benigno S. Aquino III's final nod.

 

BCDA also allocated nearly P76 billion for three road projects to improve the Poro Point Free Point Zone access and boost tourism

 

The Freeport currently has six registered locators: Thunderbird Pilipinas Hotels and Resorts Inc.,  Thunderbird Poro Development Ventures Inc., Leading Edge International Aviation Academy Inc., Wallace Fuel Storage Inc., COVA Services and Consulting Philippines Inc., and Forerunner Multi-Resources Inc.

 

Tourist arrivals in Poro Point Freeport increased by 6 percent to 29,690 in January to June 2013, compared with the same period in 2012, latest BCDA data showed. – VS, GMA News