MANILA, Philippines - Japanese engineering giant Chiyoda and Mitsubishi Corp. have signed a contract to build a new airport in Bohol, Nikkei reported.
The two companies said construction of the new Bohol airport will begin shortly. The airport is expected to be completed in 2017.
The $91 million airport will have a 2,000-meter runway and terminal facilities, which can handle 1 million tourists a year. It will be mostly funded through yen-denominated loans from the Japan International Cooperation Agency.
Bohol is a popular tourist destination for many local and foreign tourists.
The new Bohol airport will be operated through a public-private partnership. Nikkei said Mitsubishi Corp. is considering bidding for the operation contract as well.