MANILA, Philippines — Aboitiz InfraCapital Inc. — the infrastructure unit of the Aboitiz Group — gained headway in its proposal to operate, maintain and develop the New Bohol International Airport after bagging the original proponent status, or OPS.
In a disclosure to the stock exchange on Friday, Aboitiz Equity Ventures, Inc., the public holding company of the Aboitiz Group, said the offer seeks to “unlock the tourism potential of Bohol and the rest of the region.”
The new airport, located on Panglao Island and also called the Panglao Island International Airport , is intended to replace the current airport in Tagbilaran City, which serves almost one million passengers per year.
Being the original bidder, Aboitiz InfraCapital has the right to match the offers given by other groups via a Swiss challenge.
“We believe our proposal provides an expedient and comprehensive solution for the immediate and long-term needs of the New Bohol International Airport,” said Sabin Aboitiz, president and chief executive officer of Aboitiz InfraCapital.
“We also remain committed and ready to support the government in its initiative to develop and enhance other regional airports throughout the country,” Aboitiz added.
Last April, Aboitiz Equity Ventures said the transportation department rejected its infrastructure arm’s P148-billion pitch to modernize four key regional airports, including the New Bohol Airport, after the government adopted a policy to publicly solicit bids for the operations, maintenance and development of all airport projects.
The Aboitiz Group later revised and resubmitted its proposal after being told by the government to unbundle its offer, as many of the airports can stand on their own.
Aboitiz decided to push through with its plans for the New Bohol Airport.
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Aboitiz InfraCapital is also part of the “super consortium” that submitted a proposal to upgrade the 70-year-old Ninoy Aquino International Airport. The band of tycoons also secured the OPS for the project.
Calls on the government to fast-track the approval of offers from the private sector to build and operate more gateways outside the capital have intensified after a Chinese plane skidded onto the grass and blocked the NAIA runway in August, prompting the cancellation of around 165 international and local flights.
Seeing the deterioration of the Manila airport, the Duterte administration has been entertaining unsolicited proposals to rehabilitate NAIA and build more provincial airports.
Apart from infrastructure, the Aboitiz Group also has major investments in power, banking and financial services, food and land.
As of 12:41 p.m. Friday, shares in Aboitiz Equity Ventures were down 35 centavos or 0.70 percent to P49.60 each.