Ayala Land Inc. (ALI) recently signed a partnership memorandum of understanding with Korean Airports Corporation (KAC) and Samsung C&T Corporation in line with its plan to pursue the bid for the privatization of the operations and maintenance of the Laguindingan Airport in Misamis Oriental.
KAC is a leading airport construction and operations company, which manages 14 airports, both domestic and international, in South Korea. Samsung C&T, on the other hand, is one of the most recognizable Korean companies, with interests in infrastructure, energy and natural resources, and industrial materials.
The Laguindingan Airport is located approximately 30 kilometers northwest of Cagayan de Oro City, and is designed to serve as the gateway to Northern Mindanao. The Department of Transportation and Communication (DOTC) is currently constructing the facility and expects the completion of the airport by the end of 2012.