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New Quito airport concession contract to be finalized by month-end (Ecuador)
2010-11-12
The final version of the concession contract for Ecuadorian capital Quito's international airport is expected to be approved by month-end, a spokesperson from airport operator Quiport told BNamericas.

 

The state comptroller general is currently reviewing the new contract, which was drawn up after a year of negotiations between Quiport and the municipal government.

 

Quiport was awarded the airport's 35-year concession in 2005. The contract involved using Quito's existing Mariscal Sucre facility until 2010, when a new terminal would be inaugurated in the capital's Tababela district.

 

Lenders halted disbursements for the construction project while the negotiations were being carried out, which will push back the airport's opening by at least a year, according to the spokesperson.

 

Construction will resume once the comptroller general approves the contract and lenders begin their disbursements, the spokesperson added.

 

The project will have a total cost of more than US$640mn, and the state is set to receive nearly US$900mn from the concession.

 

The airport, now scheduled for completion in November next year, will have a 4.1km runway and will be able to receive more than 5mn passengers and 270,000t of cargo each year, BNamericas reported previously.

 

Quiport is made up of Canadian firm Aecon Group (TSX: ARE) and Airport Development Corporation, Brazilian company Andrade Gutierrez and Texas-based HAS Development Corporation.


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