MANILA, Aug. 19 -– Works on the P7.8 billion Laguindingan International Airport (LIA) is now in full swing.
The Department of Transportation and Communications (DOTC) said the state-of-the-art airport is a flagship project of President Gloria Macapagal Arroyo in Northern Mindanao under the Mindanao Super Region program.
Target date of completion is Jan. 2012.
Delia Capicenio, project manager of the Laguindingan Airport Development Project (LDAP), said that the acquisition of the affected properties for the access roads being undertaken by the provincial government is now 100 percent complete.
The ground preparation for the access road, which costs P188 million, including road embankment, excavation and sub-grade preparation which started last July 2007 is now 38.27 percent accomplished.
Capicenio said that the main civil work of the airport costing P4.991 billion was started in January, last year, and is now 45 percent complete.
The groundwork on the temporary facilities of contractors, mobilization of contractors’ resources at site such as materials, labor, equipment and site clearing is now in full blast.
Air navigation and support facilities will cost P708 million.
The LIA is funded with a loan secured by the Philippines and Korean governments.
The loan was sourced out from the various creditors in Korea. These are the Economic Development Cooperation Fund (EDCF) for the original loan and US$ 22.40 million; EDCP for the supplemental loan amount of US$ 8.2 million; Export Credit, US$ 62.75 million; Nordic Investment Bank (NIB), US$ 13.38 million and the government of the Philippines, US$ 60.36 million. These amount to US$ 167.09 (P7.853 billion).
The total loan is payable in 20 years, with a grace period of 10 years. The repayment will start in 2010.
Once completed and operational, the LIA will create more employment, boost the economy of the region and more tourists to come. – by Lynda B. Valencia