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October 29, 2009

Filipino Airport Proposal Receives Government Approval

The National Economic and Development Authority (NEDA) has approved the revised investment proposal for Panglao Island International Airport in the Philippines. The government agency increased the project investment from $90m (PHP4.27bn) to $159m (PHP7.54bn). A total of $63.3m

By cms admin

The National Economic and Development Authority (NEDA) has approved the revised investment proposal for Panglao Island International Airport in the Philippines.

The government agency increased the project investment from $90m (PHP4.27bn) to $159m (PHP7.54bn).

A total of $63.3m (PHP3bn) will be procured from the Manila International Airport Authority, while the Department of Transportation and Communication will provide $94.9m (PHP4.5bn).

Construction of the airport is expected to begin by 2010, and is scheduled for completion in 2012.

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