The Department of Transportation said on Friday it was on track to finish the Bicol International Airport (BIA) in Daraga, Albay by July.
As of Wednesday, progress rate was at 62.393 percent, the agency said.
The Transportation department is optimistic the new airport can spur economic growth in the region.
“[T]he BIA is the much-anticipated infrastructure program that will boost air traffic and tourism arrival in Bicol, and enable the province of Albay to become an economic powerhouse,” it said.
A major tourist attraction in Albay is Mayon Volcano for its near perfect cone.
The new airport can service 2 million passengers yearly.
The construction was halted for 11 years after former president Benigno Aquino 3rd mandated a review of its feasibility.
Aboitiz Equity Ventures Inc., which saw its shares rise by 1.89 percent or P1 to end at P54 on Friday, last year revealed its unsolicited proposal to operate and maintain the said gateway.