PRESS RELEASE 06 April 2018
DOTr Policy to Publicly Tender Philippine Airports
This update is being made in reference to the March 7, 2018 disclosure made by Aboitiz Equity Ventures, Inc., on behalf of its wholly-owned subsidiary Aboitiz InfraCapital, Inc. (AIC), regarding the submission of its unsolicited proposal for the Upgrade, Expansion, Operation & Maintenance of Iloilo International Airport, Bacolod-Silay Airport, Laguindingan Airport, and New Bohol International Airport (Panglao).
AIC has received an official response from the Department of Transportation (DOTr) stating that the Department has adopted a policy to publicly solicit bids for the operations, maintenance, improvement, and expansion of all airports under its jurisdiction, and therefore cannot accept the proposal.
While AIC believes its proposal is a very efficient solution to address the immediate need of the airports in the most expedient and comprehensive way, we understand the DOTr’s decision to take a different course.
AIC remains committed to supporting the Philippine government in its efforts to advance infrastructure within the country, particularly in the aviation sector. We look forward to receiving the final details of the upcoming tender and will continue supporting the development of the regional airports.
About Aboitiz InfraCapital Aboitiz InfraCapital, Inc. (AIC) undertakes all of the infrastructure and infrastructure-related investments of the Aboitiz Group. Aside from AIC, the Aboitiz Group’s other infrastructure units include Republic Cement and Building Materials, Inc., Aboitiz Equity Ventures, Inc.’s (AEV’s) partnership with CRH plc, and Apo Agua Infrastructura, Inc., a joint venture between AEV and J.V. Angeles Construction Corporation that will build one of the country’s largest private bulk water supply projects.
About Aboitiz Equity Ventures Aboitiz Equity Ventures, Inc. (AEV) is the public holding company of the Aboitiz Group with major investments in power, banking and financial services, food, infrastructure, and land. Today, AEV is recognized as one of the best-managed companies in the Philippines and in the region, consistently cited for its commitment to good corporate governance and corporate social responsibility. With five generations of Aboitiz Group business success behind it, AEV continues to drive change for a better world by advancing business and communities.
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For further queries on this Press Release, please contact:
THET R. MESIAS Media Relations ABOITIZ EQUITY VENTURES, INC. [email protected] +632 886-2497 +63917 3036766 |