CAGAYAN DE ORO CITY – The Department of Transportation (DOTr) officially handed over the PhP 12.75-billion modernization of Laguindingan Airport in Misamis Oriental to Aboitiz InfraCapital (AIC) on Friday.
In a turnover ceremony in Laguindingan town, DOTr and the Civil Aviation Authority of the Philippines (CAAP) awarded the 30-year project to AIC under a public-private partnership (PPP) scheme starting in 2025.
AIC president and chief executive officer Cosette Canilao said the modernization will result in a world-class airport.
“This project marks a major step in our airport platform and we are optimistic about pursuing other regional opportunities,” Canilao said.
The upgrade includes the renovation and expansion of the passenger terminal, installation of major equipment, and enhancement of airside and landside facilities.
Laguindingan Airport is Mindanao’s second busiest after Davao City’s Francisco Bangoy International Airport.
“We are grateful for the opportunity entrusted to us by DOTr and CAAP,” Rafael Aboitiz, AIC vice president for airports business, said, adding that the project will drive socio-economic progress in the region. (PNA)