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CYPRUS: Joint venture construction contract award for planned $450,000,000 build-operate-transfer (BOT) airport construction project, BOUYGUES BATIMENT [France] & AER RIANTA INTERNATIONAL [Ireland] - Order #: 020805.
WWP-Business Opportunities in Asia & the Pacific, February, 2005
PROJECT OVERVIEW:
The local MINISTRY OF TRANSPORT recently awarded a construction contract for a new airport as well as the upgrade of another to an international joint venture operating under the name of HERMES AIRPORTS. The partners in the planned undertaking include France-based BOUYGUES BATIMENT, a subsidiary of the BOUYGUES CONSTRUCTION, and AER RIANTA INTERNATIONAL of Ireland.
According to the terms of the award, the partnership will be responsible for building a new airport at Larnaca that will have an eventual installed passenger handling capacity of 10 million per year by 2010. In so doing, the project is to be implemented on a build-operate-transfer (BOT) basis. As a result, the concession is expected to last for 25 years. In addition,...
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