The National Economic and Development Authority (NEDA) Board, chaired by President Ferdinand R. Marcos Jr., approved on Monday key changes to the NEDA Board-negotiated parameters, terms and conditions (PTCs) for the Laguindingan International Airport Project.

The NEDA Board approved changes to the NEDA Board approved-negotiated PTCs for the upgrade and expansion of the Laguindingan International Airport in Misamis Oriental, following deliberations at the Cabinet Committee of the Investment Coordination Committee (ICC-CC).

These include guidelines for adjusting the passenger service charge, contingent upon achieving the set key performance indicators and minimum performance standards and specifications for operation and maintenance during the concession period.

With a total cost of PhP12.75 billion, the project entails upgrading the existing facilities, capacity augmentation, installation of required equipment, enhancement of airside facilities, and comprehensive operations and maintenance services.

The project is expected to improve the airport’s capabilities significantly, ensuring it meets the growing demands of Northern Mindanao over the years.

Meanwhile, the approved PTCs for the upgrade of the Bohol-Panglao International Airport aim to resolve ambiguities in compliance with the recently enacted Public-Private Partnership (PPP) Code, which came into effect after the airport project was approved.

The expansion project aims to increase the maximum passenger throughput from two million to at least 2.5 million passengers per year at the project’s start and to at least 3.9 million by the end of the project.

According to Balisacan, the expansion of these international airports is a testament to the government’s commitment to enhancing connectivity across regional centers in the Philippines. The government expects these projects to significantly boost tourism, and as a result, generate more high-quality jobs. /Alberto Vicente with reports from the Presidential Communications Office