AEV submits P148-billion unsolicited proposal to revamp regional airports

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The infrastructure unit of the Aboitiz Group submitted an unsolicited proposal to modernize four major regional airports for close to P150 billion.

Aboitiz Equity Ventures, Inc. (AEV), in a disclosure to the stock exchange on Wednesday, March 7, said Aboitiz InfraCapital’s P148-billion multi-phased project covers the transformation of the Iloilo International Airport, Bacolod-Silay Airport, Laguindingan Airport, and New Bohol International Airport in Panglao into world-class facilities.

“Through this unsolicited proposal, we intend to support the government’s ‘Build, Build, Build’ program as we develop sustainable airport facilities that reflect and support the tremendous economic and tourism potential of the Philippines’ regions and provinces,” Aboitiz InfraCapital CEO and President Sabin Aboitiz was quoted in a statement as saying. — Krista Angela M. Montealegre