Aboitiz InfraCapital Inc. (AIC), the infrastructure arm of the Aboitiz Group, has secured the contract to upgrade, operate, and maintain Laguindingan Airport in Misamis Oriental.
In a statement, AIC said the company received the notice of award (NOA) from the Department of Transportation (DOTr) and Civil Aviation Authority of the Philippines (CAAP) on Sept. 30, 2024.
The official signing of the concession agreement is expected to take place by the end of October.
This agreement marks an expansion of AIC's airports portfolio in Mindanao and further solidifies its position as a key player in the Philippine aviation sector.
“We are excited to take on revitalizing Laguindingan Airport and collaborating with stakeholders to create a world-class facility that serves the travelers and the community alike,’” Cosette V. Canilao, AIC President and Chief Executive Officer, said.
“This deal marks another major step in our Airports Platform, and we remain optimistic as we pursue further opportunities with other regional airports. Together with the government, we are committed to making this vision a reality,” she added.
AIC’s investment in the Laguindingan Airport aims to modernize and transform the airport into a world-class gateway that will boost connectivity, tourism, and economic growth in Northern Mindanao.
The proposed P12.75 billion project involves extensive development, including renovating and expanding existing facilities. This will cover the airport's passenger terminal building, required equipment installation, and airside and landside facility enhancement and development for a 30-year concession period.
AIC aims to transform Laguindingan Airport into a world-class gateway that will boost connectivity, tourism, and economic growth in Northern Mindanao.
“We are confident Laguindingan Airport will drive socio-economic progress in the region as airports are a force multiplier in driving socio-economic progress through job creation, tourism development, and expanded connectivity,” Rafael Aboitiz, AIC Vice President - Head for Airports Business, said.