The Department of Transportation (DOTr) has encouraged the private sector to invest in the government’s new airport project in Bacong town, along with several transportation projects, under the public-private partnership (PPP).
Speaking before the Philippine Chamber of Commerce and Industry in Makati City Thursday, DOTr Secretary Jaime Bautista said the government is open to private partners for these projects due to “public funding challenges.”
Envisioned to cost PHP17-billion, the Bacong airport is eyed to replace the existing Dumaguete airport to help handle the influx of passengers, expected to reach up to 2.5 million by 2038, the agency said.
A statement from DOTr said that of the project funding, at least PHP13 billion will come from Seoul’s official development assistance through the Export-Import Bank of Korea (Korea Eximbank), while the remaining PHP3.9 billion will be shouldered by the DOTr.
The National Economic and Development Authority (NEDA) said the project would be “implemented within seven years” in Bacong, Negros Occidental.
Bautista expressed confidence that there would be takers to help fund these projects, noting that such investments are “highly investible”.
“You can discover their investment potential under the PPP scheme. Private sector investment will allow us to fast-track their completion,” he said.
The DOTr is handling 73 of the 198 infrastructure flagship projects approved by the National Economic and Development Authority.
Aside from the Bacong airport, projects in the aviation industry include the Ninoy Aquino International Airport, Mactan-Cebu International Airport, Clark International Airport, and Bohol-Panglao International Airport.
“Other airport projects are in Bukidnon, Catbalogan, Tacloban, Caticlan, Siargao, Zamboanga, Masbate, Kalibo, and the New Manila International Airport in Bulacan,” he said.
The DOTr also has projects for road transport, such as the Cebu Bus Rapid Transit, Davao Public Transport Modernization Program, EDSA Busway, EDSA Greenways, Public Utility Vehicle Modernization Program and the Active Transport Program.
There also are some of the big-ticket projects in the rail sector, to include include the Metro Manila Subway Project North-South Commuter Railway System, Metro Rail Transit (MRT) Line 7, Light Rail Transit Line 1 Cavite Extension, MRT-4 and South Long-Haul Railway.
Bautista also expressed appreciation for the performance of the Philippine Coast Guard, the Philippine Ports Authority and the Maritime Industry Authority in securing and managing the country’s waters, ports and vessels. (PNA)
