A 49 Billion peso plan to develop, operate and maintain the Davao International Airport was submitted by Chelsea Logistics Corporation (PSE:CLC) to the Department of Transportation (DOTr) as revised uncolicited proposal.
The proposal is currently under evaluation by the Civil Aviation Authodrity of the Philippines (CAAP), the agency with direct jurisdiction over regional airports, after a favorable endorsement by the DOTr on September of this year.
CAAP and proponent CLC will subsequently discuss the details of the terms and conditions of the said offer. Transportation Undersecretary Ruben Reinoso bared the information.
The plan has a proposed 30-year concession period.