From the total project cost of some $92.1 million, about $71.61 million (78%) will be sourced from Korea EXIM bank while the balance of $20.5 million (22%) will be borne by the Philippines government.
The project will involve the construction of a new passenger terminal with facilities to accommodate increased domestic passengers and international flights.
It will also involve the construction of a new access road and provision of navigational aids, among others. The Project aims to improve transport accessibility, efficiency, and sustainability in Palawan, contribute to ongoing poverty reduction efforts, and support the Philippine Government’s peace and development efforts in the region.
The project is scheduled to begin later this year and is earmarked for completion in 2013.
