Govt to get at least P500M for old Iloilo airport

The government on Thursday announced it would bid out the 54-hectare airport in Mandurriao, Iloilo on April 24, and said it would be expecting P500 million to P2 billion for the old airport. The Department of Finance on Thursday issued an invitation to prospective bidders to get the terms of reference and bid package for the airport, from the Bids and Awards Committee. The committee is set to conduct a pre-bid conference in Iloilo City on March 13 and another one in Manila on March 15 to entertain queries from interested investors. Prospective bidders would be given until March 27 to submit pre-qualified documents. Eligible bidders would then be notified on April 3. The Iloilo airport will be bid out on April 24. Part of the sale proceeds would be used to pay a P6.2 billion loan from Japan Bank for International Cooperation, which was used to finance the construction of the new Iloilo International Airport in the Sta. Barbara – Cabanatuan area. The proceeds will also be used to fund the construction of a first class highway interconnecting the provinces of Iloilo , Capiz, Antique and Aklan. The government hopes to raise around P27 billion from the privatization of big-ticket assets this year. -GMANews.TV