NEDA OKs P4.17-B Panglao airport project

The National Economic and Development Authority Board has approved a P4.17-billion project to build an airport in Panglao, Bohol. In a statement released Thursday, NEDA said the airport supports the government's thrust to make Central Philippines a major tourist destination. "The Panglao Airport Development Project... envisions opening up Central Visayas to more economic activities as well as enhancing the tourism potential of Bohol," NEDA said. "This is expected to reduce travel time and cost of transporting goods and people. The project will also serve as a gateway for major tourist destinations in Bohol from other parts of the country and abroad," it added. The proposed airport will be built on 216 hectares of land approximately 15 kilometers from Tagbilaran City, and will have a runway of 2,500 meters by 45 meters and passenger and cargo terminal buildings. The project will be funded wholly by government funds from the Manila International Airport Authority, the Department of Transportation and Communication and some of its attached agencies, and the Department of Tourism. It will be jointly implemented by the DOTC and the MIAA. The project is expected to start July this year and finish by April 2010. - GMANews.TV