Drilon committee approves P5.385B
budget for Laguindingan airport

Sen. Franklin M. Drilon today announced that the Committee on Finance approved the multi-year appropriation of a total of P5.385 billion for the construction of Laguindingan airport, in which the amount of P946 million is appropriated for 2007.

"An international standard airport will definitely give North Central Mindanao the needed economic boost as it opens the region to more investors and tourists ," Drilon, chairman of the Senate finance committee said.

During the committee hearing on the P17.6 billion budget of the Department of Transportation and Communication (DOTC), Drilon said for 2007, the finance committee approved P946 million for the Laguindingan Airport Development Project in Misamis Oriental.

Drilon also instructed DOTC Sec. Leandro Mendoza to fast track acquisition of 80 hectares more where the new airport will be built. Initially, Ayala Property has donated 150 hectares for the airport project. Target date of its completion is December 2009.

The Laguindingan airport project, financed by a loan from South Korea, will replace the existing Lumbia Airport which serves the Cagayan de Oro-Iligan growth corridor in North Central Mindanao. It is located about 30 km northwest of Cagayan de Oro City.

During the same hearing, Drilon also declared the allocation for the new airport in Iloilo amounting to P2.712 billion and P2.788 billion for the Negros airport submitted for Senate approval.