Crucial meeting on the the Panglao Bohol International Airport, with Pres. Gloria Macapagal-Arroyo in Malacanang on Oct. 6, will reveal the fate of the multi-billion airport.
Gov. Erico Aumentado told the President that if the airport project would be derailed, then, it “could be the biggest issue in Bohol against the administration candidates.”
The governor who is a known political leader of the President has oftentimes relayed Ms. Arroyo’s commitment to complete the project within her term.
However, latest developments revealed that due to the delayed implementation of the project, the cost overrun of the project would cost 76%, increasing the project cost to P7.5 billion as against the outlay of P4.2 billion previously approved by the National Economic Development Authority-ICC technical board.
The meeting is expected to address the problems on the airport project, particularly on the funding requirement.
The new cost estimate came out after the Philippine Japan Airports Consultants (Phil-JAC) completed its detailed engineering works for the airport project recently.
Aumentado has a ready second option though – construct the terminal building and allied facilities under the build-operate-transfer (BOT) scheme.