AIC wins P12.75B Laguindingan Airport concession
Aboitiz InfraCapital Inc (AIC) has won a P12.75 billion contract to upgrade, operate, and maintain Laguindingan Airport in Misamis Oriental over a 30-year period.
The company received the notice of award from the Department of Transportation and CAAP last September 30, with the concession agreement expected to be signed by the end of October and operations set to begin in April next year.
AIC will partner with Ireland-based daa International for technical services advisory to enhance airport operations and development.
Cosette Canilao, AIC President and CEO, expressed optimism about transforming Laguindingan into a world-class gateway that will boost connectivity and economic growth in Northern Mindanao.
The project includes extensive renovations, new equipment installation, and facility expansion, funded through a mix of debt and equity.
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