The National Economic and Development Authority (NEDA) Board has approved the negotiated parameters, terms, and conditions (PTCs) of the upgrade and expansion of the Laguindingan International Airport Project. This was announced by Socioeconomic Planning Secretary Arsenio Balisacan during a press briefing in Malacañang today, January 26.
Balisacan disclosed that the PTCs for the 12.75-billion Laguindingan International Airport project negotiated between the government were represented by the Department of Transportation and the Civil Aviation Authority of the Philippines, and the Original Proponent of the unsolicited public-private partnership (PPP) project.
Approved in July 2023, the project supports the government’s efforts to enhance regional development and promote tourism in Northern Mindanao and its neighboring regions.
Following the approval of the modified PTCs, the project will now undergo the comparative challenge process following the rules under the newly enacted PPP Code.
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