Chelsea Logistics offers to develop Davao and Panglao airports for P67B

Chelsea Logistics Holdings Corp. has submitted to the Department of Transportation (DOTr) an unsolicited proposal to develop, operate, and manage two airports for P67 billion.

Submitted to the DOTr on Feb. 5, 2018, the proposal calls for a public-private partnership (PPP) initiative involving the Davao and New Bohol (Panglao) International airports under a concession period of 30 years.

In an emailed statement on Friday, Chelsea Logistics said it wants to operate and maintain all existing and project assets of the two airports the except those that will remain within the control of the Civil Aviation Authority of the Philippines (CAAP).

The development works would focus on meeting future passenger and aircraft movements.

“We will modernize both Davao and Panglao international airports into world-class airports without government subsidy by implementing the development in three phases with an estimated total project cost of P67 billion,” the company said.

“However, for economical viability of the project, the succeeding works after the development of Phase 1 shall be subject to the traffic growth requirements and compliance with the minimum performance standards,” Chelsea Logistics president and CEO Chryss Alfonsus Damuy said.

The DOTr acknowledged having received the letter and said it is evaluating the unsolicited proposal in line with Republic Act 7718 and its implementing rules and regulations, according to Chelsea Logistics. —VDS, GMA News