Aboitiz Infra, Others Lauded For Advancing PPP Infrastructure Projects

Finance Secretary Ralph G. Recto highlighted the recent signing of agreements to launch five Public-Private Partnership (PPP) transportation projects as a significant milestone for Filipinos this Christmas season.

Witnessed by President Ferdinand R. Marcos Jr., the Department of Transportation (DOTr) and Aboitiz InfraCapital, Inc. signed a Concession Agreement for the Bohol-Panglao International Airport on December 18, 2024. I Photo: Department of Finance Facebook

Witnessed by President Ferdinand R. Marcos Jr., the Department of Transportation (DOTr) and Aboitiz InfraCapital, Inc. signed a Concession Agreement for the Bohol-Panglao International Airport on December 18, 2024.

This 30-year project involves upgrading, expanding, operating, and maintaining the airport, with the official turnover scheduled for June 2025.

The DOTr also signed Transaction Advisory Services Agreements with the International Finance Corporation (IFC) for the New Dumaguete and Siargao Airports, the New Cebu International Container Port, and the Cebu Bus Rapid Transit.

These agreements will facilitate private sector participation in the PPP projects.

During the event, the DOTr awarded the Civil Works Contract Package for the New Cebu International Container Port to HJ Shipbuilding Corporation Co. LTD.

“These projects are a major win for the economy, tourism, the environment, the private sector, and, most of all, the Filipino people,” Secretary Recto said during the ceremony at Malacañang Palace.

The Finance Chief emphasized the positive impact of these projects, including increased employment, higher incomes, and poverty reduction.

He added that the upgraded airports would boost tourism and economic opportunities for Filipinos in Bohol-Panglao, Dumaguete, and Siargao.

Additionally, the New Cebu International Cargo Port aims to strengthen the country’s maritime infrastructure, positioning the Philippines as a key trade and logistics hub in Southeast Asia.

Meanwhile, the Cebu Bus Rapid Transit will offer safer, more efficient, and eco-friendly public transportation for Cebuanos.

Secretary Recto assured the public that the Department of Finance (DOF) would expedite PPP projects while ensuring thorough evaluation to maximize their benefits.

The event was attended by key officials, including Korean Ambassador Lee Sang-hwa, Executive Secretary Lucas P. Bersamin, and various leaders from the government and private sector, including Aboitiz InfraCapital and IFC representatives.