Investor interested in Panglao airport project

TAGBILARAN CITY, Philippines — After almost two decades that the new Bohol Airport project in Panglao island failed to take off for various reasons, a group of investors surfaces this time showing interest to take on the project via the public-private partnership (PPP) scheme.

GT Capital Holdings, reportedly owned by Ty family, which is into banking and power generation, announced that it is eyeing to venture into infrastructure business by taking on PPP projects that the government would be auctioning, one of which is the airport in Panglao.

GTCH president Carmelo Bautista was quoted as saying: “The Bohol airport seems to be very interesting play,” adding that his firm would be needing a partner in this infrastructure venture.

Bautista further said GTCH is also eyeing to supply power in Bohol, if needed. “If we supply power to Bohol, imagine what kind of development multiplier you will have there, not just for tourism but also for commerce,” he said.

GTCH’s sister company, Global Business Power Corp, has been the leading independent power producer in the Visayas, with a combined gross dependable capacity of about 627 megawatts, said the report without telling however if the firm had already engaged in the PPP scheme so far.

It will be recalled that President Noynoy Aquino, during his visit to Bohol last year, appeared “to favor the expansion of the existing Tagbilaran City airport instead of building a new one in Panglao.” This statement drew varied reactions at the time.

Bohol’s numerous tourist attractions have drawn more than half a million tourists every year, a number that could make the existing Tagbilaran airport unable to accommodate any more. This scenario prompted the need to build a bigger airport to have room for more and bigger planes.

The existing city airport has a narrow runway of about two kilometers but the proposed one in Panglao has a long airstrip of about 2.5 kilometers, studies said.

Records also showed that more than P88.36 million has been paid out for land acquisition of 146.37 hectares for the new Bohol airport, the former Panglao International Airport.

The document stated further that the purchased property once belonged to 226 landowners of barangays Danao, Tawala, Lourdes and Bolod that would be affected by the project.

There was no proof however if another 70 hectares were settled for acquisition to complete the 216 hectares needed for the airport.

The fund, from the DOTC, for lot acquisition and other expenses of the project has a total balance of P33,243,791.75 as of May 31, 2011 (based on records at the Provincial Treasurer’s Office).

The project will cover a total of 216 hectares for the construction of 2.5 kms by 45 meters wide runway and passenger and cargo terminals. (FREEMAN)