MANILA - Chelsea Logistics and Infrastructure Holdings Corp. on Wednesday said it was optimistic that the government would soon give the "green light" for its unsolicited proposal to modernize the Davao International Airport.

The proposal was given the Original Proponent Status (OPS) last year and was recently endorsed by the Davao City Chamber of Commerce and Industry Inc., Chelsea Logistics, controlled by Davao-based businessman Dennis Uy, told the stock exchange.

"With the pace of the approval process, we are positive to receive the green light from NEDA (National Economic and Development Authority) soon so we can move forward with the development of the primary gateway to Mindanao and the third largest airport in the country," Chelsea president and CEO Chryss Alfonsus Damuy said.

Chelsea Logistics is also a consortium member of the chosen third telecommunications player, Mislatel together with Uy's Udenna Corp and the state-run China Telecom.