Friday, May 04, 2007 International airport project to cost P1.5 billion more By Lizanilla J. Amarga
THE construction cost of the long-delayed Laguindingan International Airport is going to be increased by around P1.5 billion from the original P5.8 billion to P7.3 billion, said Misamis Oriental Governor Oscar Moreno Thursday.
As early as June 2006, Department of Transportation and Communications (DOTC) assistant secretary Robert Castañares already revealed that cost of constructing the airport at Laguindingan, Misamis Oriental is expected to increase by 10 to 20 percent.
In his radio program Thursday, Moreno said he met with President Gloria Macapagal-Arroyo and the executives from financial institutions who are bankrolling this project.
This particularly as the airport project has so far failed to actually take off since its conception in 1996, when the prices of its construction costs are originally based.
"Now, the President and the lenders have agreed that the cost of the project will be increased to P7 billion to even P7.3 billion," he said.
Castañares earlier said they already undertaken some "engineering strategies" to make sure that the increase in the cost will not be so high.
This included the revising of the original plan of developing 400 hectares to only 200 hectares.
"We will be developing only the footprint of the Laguindingan Airport project that involves only 200 hectares," he said.
He added that the rest of the 200 hectares will be not developed but will be used to accommodate industrial and commercial project.
Another engineering strategy, Castañares had said, is their revising the project plan to adjust "earthworks" for Laguindingan's "irregular" terrain.
He said the plan now will be to adopt the present level without having to do so much earthworks to lessen the cost.
DOTC records showed how the Iloilo International Airport Project was pegged only at P6 billion in the past but it is now costing the government up to P8.5 billion. Also, foreign exchange rate costs is also figured into the computation of the construction cost.
