Taisei Corporation
The Iloilo International Airport project was inaugurated by President Gloria Macapagal Arroyo on January 25, 2004, and construction work on the new airport started on April 14 that year. The original expected deadline of completion was June 2007, although this was moved to the first quarter of 2007. A joint venture between the Taisei Corporation and the Shimizu Corporation of Japan served as the contractor for the project, with Phil-Japan Airport Consultants, Inc. managing the project and serving as the government's consultant to the project. The project was 75 percent complete as of July 14, 2006 and fully complete by March 18, 2007. While construction was completed ahead of schedule, the airport was constructed over budget, with a final cost of around 8.8 billion pesos ($201 million) caused by increases in the cost of civil works and consultancy services.