An estimated $17.4 million will be allotted to develop the Bicol international airport in Daraga, Albay, according to Philippines the Department of Transportation and Communications (DOTC).
The new airport project involves the construction of several buildings including the operation and control tower, administration building, cargo terminal, and landside facilities.
Interested investors were given until January 21 to submit their bids.
The DOTC and the Civil Aviation Authority of the Philippines (CAAP) earlier began the process of bidding for the operation and maintenance of six provincial airports worth $2.5 billion.
Prospective bidders have been invited to submit bids to pre-qualify and bid to finance, design, construct, operate, and maintain the Bacolod-Silay, Davao, Iloilo, Laguindingan, New Bohol (Panglao), and Puerto Princesa airports.
The DOTC said the 30-year concession contract will be awarded through a competitive bidding following the rules and procedures prescribed under Republic Act 6957 as amended by RA 7718 or the Build-Operate-Transfer (BOT) Law.
The private sector concessionaire for the Bacolod-Silay, Davao, Iloilo, and Laguindingan airports will take over operations and maintenance; undertake immediate expansion of the passenger terminal buildings, apron, other airside and landside facilities; and any capacity augmentation.
The private proponent will also handle operations and maintenance of the New Bohol (Panglao) and Puerto Princesa airports.