The National Economic Development Board (NEDB) in the Philippines has cleared the $45m (PHP20.26bn) expansion project for Bacolod-Silay International Airport.
To be carried out in three phases, the project will include runway extension and terminal expansion, which will allow the airport to handle three million passengers by 2025.
According to the NEDA statement: "It would provide additional facilities and other necessary improvements to enhance safety, security, access, passenger and cargo movement efficiency, and operational efficiency at the airport, excluding air navigation control, air navigation services and their associated services."
The official gazette of the NEDB said that 12 new infrastructure projects, including the airport, were approved by the board in a meeting which was chaired by President Benigno Aquino III.
Some of the other airports to receive funds for the operations, maintenance and development projects are Iloilo Airport ($676.31m), Davao Airport ($902.69m) and Puerto Princesa Airport ($116.58m).
NEDA economic planning secretary Arsenio M Balisacan said: "These approved projects will significantly contribute to the infrastructure investment needed to sustain growth and make it inclusive. The projects will allow Filipinos to have more access to social and economic opportunities.
"The transportation and port projects will improve the mobility of people and the efficiency of the flow of goods and services. Also, some of these projects will instill or enhance resiliency of many areas against climate-related risks and disasters."
Bacolod representative Evelio Leonardia said that the projects will be done under an 'operate-add-transfer' scheme with the private sector and is expected to start late next year or early 2016. The bidding for the airports will be planned later this year.