Construction work on the new Laguindingan International Airport in the Philippines is 65% complete and the airport is expected to open by the end of 2011, according to officials.
Built at a cost of P7.853bn ($167.09m), the airport is scheduled to begin flight operations in January 2012.
According to a report in the BusinessMirror, other projects such as the construction of access roads are already complete, while land for the main airport area has been acquired through a loan secured from the Korean Export-Import (Kexim) Bank.
The Philippines Department of Transportation and Communications is now acquiring navigation facilities and other equipment required for the project.
The airport is located on a 4.1km² site in Barangay Moog and will be the fourth International airport in Mindanao. It is expected to replace Lumbia Airport and Maria Cristina Airport once it is operational.