New Dumaguete City Airport secures P17.06-B funding, says Recto

New Dumaguete City Airport secures P17.06-B funding, says Recto

By: - Reporter / @luisacabatoINQ
/ 09:47 PM August 07, 2024

Finance Sec. Ralph Recto

Finance Sec. Ralph Recto —Edwin Bacasmas

MANILA, Philippines — The Philippines has secured funding for the development of a new Dumaguete City Airport in Negros Oriental, Finance Secretary Ralph Recto said on Wednesday.

At the Kapihan sa Manila Bay news forum, Recto said that the government and state-owned Export-Import Bank of Korea (KEXIM) forged a loan agreement for the P17.06 billion project.

Article continues after this advertisement

READ: The transformative impact of infrastructure on Philippine industrial real estate

FEATURED STORIES

“The new airport will enhance our capacity to welcome a surge of tourists in the post-pandemic era. With the new Dumaguete airport, we anticipate accommodating up to 2.5 million passengers per year, up from just 800,000. From serving limited domestic flights, we can now open the door to international routes,” said Recto.

Meanwhile, in a statement, the DOF said that around P13 billion of the total project cost will be supported by the KEXIM.

Article continues after this advertisement

The new Dumaguete City Airport project covers 197.55 hectares of land development in the Municipality of Bacong, Negros Oriental.

Article continues after this advertisement

It is set to comply with domestic and international standards for operational safety and efficiency.

Aside from Dumaguete, the DOF said that the government is eyeing upgrading more regional airports nationwide to modernize every island in the archipelago.

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: DoF, Dumaguete City, Ralph Recto

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.