MANILA - The Aboitiz Group on Monday said it submitted a P148-billion unsolicited proposal to modernize 4 regional airports over a 35-year concession period in a bid to help the facilities keep up with growth in the regions.
Aboitiz InfraCapital, the infrastructure wing of the Aboitiz Group, plans to upgrade, expand, operate and maintain the Iloilo International Airport, Bacolod-Silay Airport, Laguindingan Airport near Cagayan de Oro City, and the new Bohol International Airport, the group told the stock exchange.
The P148-billion multi-phased project aims to transform the said facilities into world-class technology-enhanced airports with the 'green airports' and 'connected airports' concepts, the statement said.
"Through this unsolicited proposal, we intend to support the government's 'Build, Build, Build' program as we develop sustainable airport facilities that reflect and support the tremendous economic and tourism potential of the Philippines' regions and provinces," said Aboitiz InfraCapital CEO and President Sabin Aboitiz.
The group said the pooling of resources would "unlock synergies" that would benefit stakeholders and the government.
“Not only will none of the airports require any form of subsidy,
the combined potential of the four regional gateways results in overall gains for both the government and the local economy.”
If awarded this year, Aboitiz InfraCapital said it could start work next year, with major upgrades and capacity expansions seen completed in 2021.
Aboitiz Equity Ventures is also part of the "super consortium" that submitted a P350-billion unsolicited proposal to rehabilitate the Ninoy Aquino International Airport.