The Philippine Government has tapped Netherlands-based Rebel Group International BV as transaction adviser
to study the feasibility of a potential public-private partnership (PPP)
contract to develop the Poro Point San Fernando Airport
in La Union, located at 275 Km north of Manila.The Poro Point Freeport Zone (PPFZ) was formerly known as the Wallace Air Station. It was transferred to the Bases Conversion and Development Authority (BCDA) and it was declared as a Special Economic and Freeport Zone.
Rebel Group International will lead a six-month feasibility study
, which aims to find identify the most viable type of contract for the project.
Last October, the PPP Center agreed to help BCDA find a suitable adviser through the Project Development Monitoring Fund (PDMF)
. The PDMF, supported by by multilateral grants and the National Treasury, provides funding support for PPP projects proposed by various government agencies.
When the study is completed, the study will be submitted for approval by the Investment Coordination Committee-Cabinet Committee of the National Economic and Development Authority (NEDA). Then it will need final nod from the President of the Government.
The potential new airport would be essentially dedicated to tourist flights. Current airport saw an increase of 6 % in the number of flights during the first semester of the year