ABOITIZ InfraCapital Inc. (AIC) is hoping to take over the New Bohol (Panglao) International Airport in the first quarter of 2020, if no other bidders would challenge its proposal, an official said.

AIC's unsolicited proposal to operate, maintain and expand the new airport on Panglao Island in Bohol is still being evaluated by the National Economic and Development Authority Investment Coordination Committee (Neda-ICC), said AIC chief operating officer Cosette Canilao.

If approved, it will be subjected to a Swiss challenge, a form of public procurement process in which other companies are invited to challenge the proponent of an unsolicited project proposal.

"Our proposal is with the Neda ICC and it's undergoing approval. As soon as it's approved, then we will have to go through the 60-day Swiss challenge," Canilao said during the luncheon meeting hosted by Visayan Electric Co. Inc. Tuesday, September 17, as part of the annual Cebu Press Freedom Week celebration.

"Most likely, our takeover will be early next year, (or) first quarter of next year," Canilao added.

But if there would be a challenger, Canilao said the process might take a few more months.

AIC, the infrastructure business unit of Aboitiz Equity Ventures Inc., was granted original proponent status (OPS) for its unsolicited proposal for the operations and maintenance, upgrading and expansion of the new Bohol airport on Panglao Island, Bohol and the Laguindingan Airport in Misamis Oriental.

An OPS gives the proponent the right to match any competing offer in a Swiss challenge.

AIC has partnered with Dublin Airport operator daa International for the implementation of the project should they get the contract.

The new airport in Panglao, which was inaugurated on November 27, 2018, is hailed as the first eco-airport in the Philippines. It was designed for 2.0 million passengers annually.

AIC undertakes all of the infrastructure and infrastructure-related investments of the Aboitiz Group.

Aside from airport development projects, it also provides bulk water solutions and has projects in cement manufacturing and construction of telecommunications towers. (MVI/SunStar Philippines)