JICA to fund Bohol airport expansion
Carlo S. Lorenciana (The Freeman) - October 13, 2018 - 12:00am

CEBU, Philippines — The provincial government expressed support to the future development of the new Bohol International Airport on Panglao Island.

Bohol Gov. Edgar Chatto said the supplemental loan that Japan recently approved for the airport would ensure its continued expansion.

The Japan International Cooperation Agency is funding a supplemental 4.376 billion yen (P2.09 billion) loan for the expansion of the Bohol Airport.

The loan will cover the second phase of the project, including the expansion of the airport's runway and passenger terminal building.

"The recently signed loan agreement is a supplemental loan that will finance the shortfall of the current scope and contract due to forex differential (yen and peso) and remeasurement of existing scope and potential claims of contractor," Chatto told The FREEMAN.

JICA had provided around P5.18 billion for the first phase of the project.

He said the new airport, set to commercially operate in November, is a game changer for the province.

"It will enhance Bohol's attractiveness both in tourism and investments thus creating more jobs and economic opportunities for our people," he said. "It will have very positive contribution to multi-sectoral growth and development not only for Bohol but for the region and country as well."

The new airport, which was approved in 2012, will replace the old airport in Tagbilaran City.

Earlier, the Aboitiz Group announced its subsidiary Aboitiz InfraCapital Inc was granted the Original Proponent Status (OPS) by the Department of Transportation (DOTr) for the operations and maintenance of the new Bohol Airport.

The OPS includes the operations and maintenance, future developments and expansion of the new airport on Panglao Island.

“We believe our proposal provides an expedient and comprehensive solution for the immediate and long-term needs of the New Bohol International Airport. We also remain committed and ready to support the government in its initiative to develop and enhance other regional airports throughout the country" AIC president and CEO Sabin Aboitiz had said. (FREEMAN)

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