MANILA - Chelsea Logistics said Friday it submitted to the government an unsolicited P67 billion proposal to develop and manage the Davao and Panglao airports.
The company, chaired by Davao-based businessman Dennis Uy, said it was betting on projected passenger growth of up to 15 million in Davao and 2.1 million for the New Bohol airport in Panglao.
Chelsea said it proposed a 30-year concession period for both terminals, at the end of which, the cargo terminal capacity of Davao airport would have increased three-fold while that of Pangalo would have risen by 25 percent.
The project will be done under the public private partnership scheme, Chelsea said.
Improvements will be felt as early as next year once the Department of Transportation approves the company's proposal, said Chelsea Logistics president Chryss Alfonsus Damuy.
Chelsea chairman Uy has been among the Philippines' most acquisitive businessmen since President Rodrigo Duterte assumed power in 2016 after a decades-long run as Davao City mayor.
Uy, who started Phoenix Petroleum, has acquired, among others, the Philippine operations of Japanese convenience store chain FamilyMart, hospitality college Enderun and several shipping firms.
Chelsea offered to redevelop the Davao and Bohol airports as separate groups sought to rehabilitate the Ninoy Aquino International Airport in the capital, Manila.
Duterte had laid out a plan to build P8 trillion in new airports, railways and the country's first ever subway to accelerate economic growth that is among the fastest in the world.