The Department of Transportation (DOTr) has formally signed the P4.53 billion concession agreement with Aboitiz InfraCapital Inc. (AIC) for the operation and maintenance of the Bohol-Panglao International Airport, the country’s ninth-busiest gateway. The project requires expanding the passenger terminal, upgrading airside and landside facilities, and modernizing equipment over a 30-year period. The transition should complete by June 2025.
AIC plans to boost airport capacity from 2 million to 2.5 million passengers per year within 1-2 years of operations. Upgrades meant to accommodate 3.9 million passengers by 2030, will improve passenger experience and operational efficiency while boosting safety standards.
In related developments, the DOTr also signed advisory agreements with the International Finance Corporation (IFC), the private investment arm of the World Bank, for several infrastructure projects. These include the P16.9 billion New Cebu International Container Port (NCICP), a major project funded by the Export-Import Bank of Korea (KEXIM). The NCICP will ease congestion at Cebu Base Port and enhance cargo handling, with completion expected by November 2027.
Additionally, the Cebu Bus Rapid Transit (CBRT) system, with a capacity to serve 164,000 passengers daily, has taken another step forward, as IFC helps identify a qualified operator for the 35-kilometer route. The New Dumaguete and Siargao airports are also progressing with support from the World Bank.
These developments follow the successful handover of operations at the Ninoy Aquino International Airport (NAIA) and Laguindingan Airport to private operators.
