Albay News Public Finance

New Albay Airport Benefits from PPP Initiative

Cbanga360.Net - The Bicol Street Journal

Published     23 Nov , 2010  9:40 am   Updated   21 Apr , 2013 at 4:36 pm   3,366 views.

Partial view of the current tarmac and airport terminal building of Daraga airport. It is being relocated on a new site far from the effects of Mayon

The new airport in Daraga town of Albay, otherwise referred to as the southern Luzon international airport, is Bicol’s share in the PPP project being initiated by the PH government. Funding for its construction and completion will be sourced thru the new initiative.

The national government and its intrumentalities, departments or officers are strongly-pushing and pursuing the PPP projects to the max.

Looking at the projects now on the drawing tables of their mindset, we made a listing and summary for easy reference.

The government will be wholly responsible for the civil works of at least five of these projects, which will be turned over to a private sector concessionaire for operation and maintenance (O&M):

* the $170-million expansion of the Light Rail Transit (LRT) Line 1, to be turned over to a concessionaire at market prices;