NEDA Board OKs parameters for Bohol-Panglao, Laguindingan airports’ upgrades

The National Economic and Development Authority (NEDA) Board, chaired by President Ferdinand "Bopngbong" Marcos Jr., on Tuesday approved the negotiated parameters, terms, and conditions (PTCs) for the Bohol-Panglao International Airport project as well as changes to the approved PTCs for the Laguindingan International Airport project. 

In a statement following the 19th NEDA Board meeting on July 15, the NEDA said the Board approved the PTCs for the upgrade of the Bohol-Panglao International Airport to resolve ambiguities in compliance with the recently enacted Public-Private Partnership (PPP) Code, which came into effect after the airport project was approved.  

The proposed project with a total cost of P4.5 billion aims to increase the maximum passenger throughput of the Bohol-Panglao airport from two million to at least 2.5 million passengers per year at the project’s start and to at least 3.9 million by the end of the project. 

The NEDA Board also approved changes to the earlier approved negotiated PTCs for the upgrade and expansion of the Laguindingan International Airport in Misamis Oriental, following deliberations at the Cabinet Committee of the Investment Coordination Committee (ICC). 

Changes include guidelines for the adjustment of the passenger service charge, which will be contingent upon achieving the set key performance indicators and minimum performance standards and specifications for operation and maintenance during the concession period. 

With a total cost of P12.75 billion, the project entails upgrading the existing facilities, capacity augmentation, installation of required equipment, enhancement of airside facilities, and comprehensive operations and maintenance services, according to the NEDA.

The state economic planning agency said the project is expected to improve the airport’s capabilities significantly, ensuring it meets the growing demands of Northern Mindanao over the years. 

Under the previous administration, Aboitiz InfraCapital Inc. bagged original proponent status for its unsolicited proposal to take over the Laguindingan Airport in Misamis Oriental. 

The same company also secured the OPS for its unsolicited bid for the operations and maintenance of the Bohol-Panglao airport. 

“The expansion of these international airports is a testament to the government’s commitment to enhancing connectivity across regional centers in the Philippines. We expect these projects to significantly boost tourism, and as a result, generate more high-quality jobs,” said NEDA Secretary Arsenio Balisacan. 

The NEDA Board also approved an additional $30 million loan to support the Project Development and Monitoring Facility (PDMF). 

The PDMF provides a project preparation facility for implementing agencies to undertake pre-investment activities, such as developing feasibility studies for potential PPP projects and engaging high-quality transaction advisors. 

The facility will provide support throughout the preparation, development, approval, procurement, coordination, and monitoring of various PPP projects.  

“As we strive to expand private sector participation in our infrastructure projects, this additional support for the Project Monitoring and Development Facility will ensure that our PPP undertakings are meticulously planned and executed to the highest standards. It will also guarantee continued access to international sources of innovation, expertise, advice, and best practices in the development and implementation of PPP projects,” said Balisacan. — BM, GMA Integrated News