Business
DOF, Megaworld to sign initial contract for Iloilo old airport privatization
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Sep 10, 2007 - 4:51:00 AM

ILOILO CITY, Sept. 11 (PNA) -- The Department of Finance (DOF) and Megaworld Corporation are slated to sign an initial contract for the privatization of the 54-hectare property of the Air Transportation Office (ATO) in Mandurriao district this week.

This was bared by DOF Undersecretary John Philip Sevilla to Iloilo City Mayor Jerry P. Treñas after the postponement of the initial signing of the agreement last week.

Treñas will be one of the witnesses during the initial signing to be held in Metro Manila.

Treñas said the contract's final signing will be held here in Iloilo after all the necessary documents and payments as stipulated in the agreement are complied with.

Megaworld Corporation won the bidding for the privatization of the old airport at Php1.2 billion.

Initially, it was learned that the management of the corporation planned to put up an Information and Technology park in the area.