WATCH! Department of Transportation(DOTr) Upgrading Puerto Princessa Airport worth 4-Billion pesos

The island of Palawan is one of the Philippines' most popular tourist destination, having it upgraded
as an International Airport was DOTr's (Department of Transportation) plan and scheduled an inauguration this coming  May 3, 2017.

According to DOTr, "On May 3, 2017, the DOTr will inaugurate the Puerto Princessa Airport, a newly developed international  airport which was designed to accommodate 1.9 million passengers annually." they confirmed this to the media.

The inauguration of the newly upgraded Puerto Princessa international airport will be on the
first quarter but because of the development of the perimeter road, the construction will extended to 90days, according  to DOTr.construction of the airport includes the new cargo and passenger building, apron, navigation facilities and taxiways that were approximately costs 4 Billion pesos.

Mainly, the Puerto Prinsesa Airport was funded from a loan amounting 71.6 million dollar through the Korean Import Bank (KEXIM) payable within 40 years, with an interest rate of 0.1 percent per year provided a 10 year and a half grace period.

Fast tracking the inititives of the former administration was ordered by President Duterte to the DOtr for them to  know  the development of the projects Aquino has initiated under its Public-Private Pertnership (PPP) Program.

When the Upgraded Puerto Prinsesa Airport completed this will accommodate an estimated 2 Million  passengers annually. The approximately 1.34 million passengers which was expected to the upgraded airport are way too far from the 350,000 passengers  accommodated by the existing terminal for the past 2013.

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SOURCE : PINOYTHINKING

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