Aboitiz Equity Ventures (PSE:AEV) unit Aboitiz InfraCapital won a bid to upgrade, operate, and maintain the Laguindingan Airport in Misamis Oriental, Philippines.
Under the 12.75 billion Philippine pesos deal, the company will carry out renovations, installation of new equipment, and expansion of some facilities over the 30-year concession period.
The contract was awarded by the Department of Transportation (DOTr) and Civil Aviation Authority of the Philippines (CAAP) on Sept. 30, according to a Thursday Taiwan Philippine bourse filing.
The official signing of the concession deal is expected by the end of October, the conglomerate said.
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