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Villar Group into airport venturing business
The Philippine Star
|October 04, 2024
Tycoon Manny Villar may soon venture into the airport business as his investment vehicle makes a P31-billion pitch to operate and maintain the Iloilo and Puerto Princesa gateways.
The Department of Transportation (DOTr) said it plans to award the concession for the rehabilitation of the Iloilo International Airport and Puerto Princesa International Airport next year.
Villar's Prime Asset Ventures Inc. (PAVI) will end up as the original proponent in both projects if no other companies submit a counteroffer during the Swiss challenge.
PAVI holds the original proponent status for the P20.85-billion upgrade of the Iloilo International Airport. The project entails expanding the passenger terminal building of the gateway and fixing existing facilities to accommodate the travel demand in Iloilo.
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