Inquirer
P21-B Iloilo airport project nears Neda board’s doorstep
The Villar group, through Prime Asset Ventures, Inc. (PAVI), has completed negotiations for its unsolicited proposal to operate and maintain the Iloilo International Airport.
The Public-Private Partnership (PPP) Center confirmed the negotiation's completion and stated the project is now undergoing review before securing endorsement to the Neda board for final approval.
Due to its project cost exceeding P15 billion, the proposal requires review by the Investment Coordination Committee (ICC) before final approval from the Neda Board.
Following Neda's approval, a comparative challenge period of at least 90 days will commence.
The P21.16 billion project includes the rehabilitation, expansion, operation, and maintenance of the Iloilo International Airport, as well as the expansion of its passenger terminal building and construction of an apron.
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