“We received confirmation that the procurement of the much-anticipated regional airport PPP Projects (New Bohol, Davao, Iloilo, Laguindigan, and Bacolod) has been terminated,” the PPP Center said on Tuesday. Transportation Secretary Arthur Tugade said doing the projects under the GAA would be more beneficial to the public. “Doing the airports on GAA makes the project cheaper as the cost of money is lower thus more beneficial to the public. Project completion is more efficient and faster, and helps avoid legal surprises that may cause regrettable delay,” Tugade said. The five airports were originally approved as a single PPP project by the Investment Coordination Committee and the National Economic Development Authority Board.

Source: Manila Times May 23, 2017 16:18 UTC