ABOITIZ InfraCapital Inc. is waiting for the National Economic and Development Authority (Neda) Board’s nod to its proposal to operate and manage the Bohol-Panglao International Airport.

“We are glad the Neda Coordination Committee-Cabinet Committee (ICC-CabCom) approved our proposal,” said company chief operating officer Cosette Canilao when sought for comment on the approval.

“We are looking forward to securing the Neda Board approval next,” she told Sunstar Cebu.

The infrastructure arm of the Aboitiz Group is proposing to modernize Bohol’s newest air hub by spending around P27 billion throughout the 25-year concession period.

The Panglao-based airport was among the four big-ticket infrastructure projects approved by the Neda ICC-CabCom on Nov. 6, 2019.

ICC-approved projects were submitted to the Neda Board chaired by President Rodrigo Duterte for final approval.

Aboitiz InfraCapital was granted the original proponent status for the unsolicited proposal, giving it the right to match any competing offer in a Swiss challenge.

The group is eyeing to take over the airport early next year, but the process may take longer if there are challengers to its bid.

The firm had partnered with Irish airport operator daa International for the future upgrade, expansion and operations and maintenance of the Bohol-Panglao International Airport. (CSL)