Aboitiz InfraCapital Inc. plans to submit a separate proposal for the capacity expansion of the Bohol-Panglao International Airport, a top executive said Monday.
“Given our negotiation with the government, we found ways on how we can still develop the Panglao airport and be the O&M [operations and maintenance] under the government terms,” Aboitiz InfraCapital chief operating officer Cosette Canilao said.
Canilao made the statement after the National Economic and Development Authority’s Investment Coordination Committee removed the capacity augmentation proposal of AIC for the Bohol-Panglao International Airport.
The government, on the other hand, asked AIC to submit purely O&M for Bohol-Panglao International Airport.
“I think the reasons why we’re interested in airport is that we believe in the tourism capacity of tourism sector in Bohol. So we have our own business plan on how to increase the passenger level and if that reaches the capacity of the current airport right now, then we will submit,” she said.
AIC earlier obtained an original proponent status from the government to operate and maintain the future development and expansion of the New Bohol International Airport.
The new airport on Panglao Island aims to replace the current airport in Tagbilaran City which is currently serving under one million passengers a year.
AIC earlier submitted a revised unsolicited proposal to the Department of Transportation to upgrade, expand, operate and maintain the Laguindingan Airport in Misamis Oriental province.
The DOTr earlier returned all unsolicited airport offers after the government decided to standardize and pattern the draft contract to the operation and maintenance contract for Clark International Airport, which covers provisions for MAGA or material adverse government action.
Under the clause, proponents will only be compensated for adverse government action from the executive branch and not any change in future laws. If MAGA occurs during the operation and maintenance period, the project proponent is entitled to compensation equal to the additional costs incurred and/or loss of revenue.