From its original cost of P4.17 billion, the much-debated Panglao Bohol International Airport Project (PBIAP) will now cost some P8.1 billion to complete.

The new cost estimate came out after the Philippine-Japan Airports Consultants (Phil-JAC) completed its detailed engineering works for the airport project recently.

The huge escalation of the airport's construction cost has fueled more speculations that the project would become another government flop even as President Arroyo and Gov. Erico Aumentado has repeatedly assured that civil works would kick off before 2010. FULL STORY