Manufacturing Industry
Frankfurt Airport to buy houses in order to expand
Airline Industry Information, Jan 25, 2005
AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD
Fraport AG, the owner of Germany's Frankfurt Airport, has reportedly offered to buy residential buildings in a neighbouring town to make room for a planned fourth runway.
The offer applies to as many as 1,200 properties that would be under the new flight path, mainly located in the suburb of Floersheim, Germany, the airport operator said in a statement. Fraport will pay compensation of some EUR150 per square metre to owners who do not want to sell, reports Bloomberg.
The programme is estimated to cost about EUR50m.
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