Loan have signed by CIAC
On Tuesday, the P1-billion loan that obtained by the Clark International Airport Corp. (CIAC) would give leeway needed for expanded operations of some 1.7 million passengers this year and two airlines in March. On Tuesday, the Land Bank of the Philippines (LBP) and the Clark International Airport Corp signed a P1-billion loan facility. The loan is for other support infrastructure and the Phase II expansion of passenger terminal of the Clark International Airport (CIA). The P1-billion loan was signed by Gilda Pico, LBP President and CEO and Victor Jose I. Luciano, CIAC President and CEO in the simple ceremonies that held in Malate, Metro Manila. Victor Jose I. Luciano said in a statement that the loan would also be used to improve the navigational equipment vital for the operations of the the Clark International Airport. The remaining funds will be utilized for the CIAC’s working capital.
The P1-billion loan would also be used for expansion of the Phase II of passenger terminal to meet demands of passenger growth due to increase of the domestic and international flights in this year. On March 5, the Clark International Airport Corp. would start the bidding of the Phase II expansion of P360-million passenger terminal which will further accommodate the growing number of passengers at the Clark International Airport, Victor Jose I. Luciano said.
