Japanese joint venture (JV) Mitsubishi-Chiyoda has signed a PHP7bn ($157m) contract with the Philippines' Department of Transportation and Communication (DOTC) to construct the New Bohol Airport on the Panglao Island.
The new airport, expected to be opened by early 2018, will replace the Tagbilaran Airport in Bohol Province.
Handling more than 700,000 passengers annually, Tagbilaran Airport is the 11th busiest in the country but is spread across just 850m2.
A rise in the volume of domestic and international passengers has prompted the administration to plan a new airport with an annual passenger capacity of 1.7 billion.
DOTC secretary Jun Abaya said: "Tourists in Bohol continue to grow each year that passes. Unfortunately, the current airport may not be able to accommodate the increase over time.
"This gives us the need to cater to the increasing number of tourists and this means modernising and expanding the airport with a design that is of international standards."
With a floor area of 8,800m2, the New Bohol Airport will have a 2,000m runway, a terminal building, and airport special equipment.
Under the Eco Airport concept, the airport will employ advanced Japanese technology. The pre-departure area will be powered by photovoltaic power generation system and a filtering system will be installed to mitigate pollution caused by drainage during construction.
Construction will begin next month.
The DOTC is in the process of bidding out the operations and maintenance of the airport.
Besides the Bohol airport, the Japanese JV is constructing the Ulaanbaatar International Airport project in Mongolia.
Chiyoda has also supplied aircraft fuel hydrant systems to major Japanese airports, such as Tokyo International (Haneda) Airport and Narita International Airport.
Image: The New Bohol Airport will replace the existing airport in Bohol Province. Photo: courtesy of Mitsubishi Corporation.