I sell an airport. Are you interested? UPDATED SEPTEMBER 8th

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I sell an airport. Are you interested? UPDATED SEPTEMBER 8th Read the following article in which there are new tenders and new information regarding other airport tenders already commented on InfraPPP World. During August, there are winners for São Gonçalo do Amarante airport, Medinah airport in Saudi Arabia and Cerro Moreno airport in Antofagasta,  there are new tenders (in Nigeria and Rwanda for example) and there are news on other processes. 
Zagreb International Airport
The Croatian Government published some months ago an international, public tender for the selection of a strategic partner to build and operate, the new passenger terminal of Zagreb Airport (2.2 million annual passengers). The deadline for submitting bids was April 4th. The value of the project is estimated at up to 220 million euros ($314 million).The following list shows bids that were received:
  • GMR Infrastructure (Indian company) and Flughafen Muenchen (Munich Airport),
  • IC Ictas Insaat Sanayi ve Ticaret with IC Ictas Altiapi Yatiramlan ne Istetru and Incheon Int. Airport Corporation (Turkish consortium with Seoul Airport),
  • TAV Airport Holding and TAV Construction (Turkish airport operator),
  • ADC and HAS Airports (Houston Airport) + Alpine Bau and FCC Construction (Austrian-Spanish consortium),
  • JandP Avax and Athens International Airport,
  • Vinci Concessions (from France),
  • Hochtief Concessions (from Germany),
  • Zaic (from the United Kingdom)
  • Flughafen Zuerich and Strabag (Zurich international airport and austrian company)
  • Limak and French Riviera Airports Consortium  (French aiport operator and Turkish airport operator)
Future Zagreb international airport
A contract between the government and one of the ten listed above is expected to be signed in October 2011 with construction to start in late 2012.
The Croatian government announced that six companies made it into the second round but it does not want to reveal the names of the companies that made it into the second round. Local press reports that the four companies that didn't make it into the second round are demanding for the tender process to be halted.
Luis Muñoz Marín International Airport (LMM) in Puerto Rico
The Puerto Rico Public-Private Partnership Authority (PPPA) and the Puerto Rico Ports Authorityy received qualification documents on August 8, 2011. Those deemed qualified then will bid for a 40- to 50-year airport concession.
Luis Muñoz Marín International Airport
Bidding likely will be concluded by the end of the year if all goes as planned, with a winner selected and financial close sometime in the first quarter of 2012.
Officials are expecting a large upfront payment, of as much as $1 billion, from the bidder. Over the next three to five years, investments could range from $35 million to $85 million, earlier feasibility studies put the total at $167 million investment in capital improvements.
Luis Muñoz Marín International Airport entered into the privatization program of the Federal Aviation Administration earlier this year. Download Press Release.
The following consorta have been qualified:- Flughafen Zürich, Public Sector Pension Investment Board (PSP), Camargo Corrêa and Gestión e Ingeniería;- Fraport and Goldman Sachs Infrastructure Partners (GSIP);- GMR Infrastrucutre and Incheon International Airport Corp;- Grupo Aeroportuario del Sureste (ASUR) and Highstar Capital;- Macquarie and Ferrovial Aeropuertos- GE Capital Aviation, Allegheny County Airport Authority, TIAA-CREF, OpTrust, Airmall USA).
Sale of Hochtief Airports
The sale of HOCTHIEF AirPorts (HTA), which has stakes in six airports - Athens, Budapest, Düsseldorf, Hamburg and Tirana in Europe and Sydney in Australia - is also attracting a lot of attention.
After the consortia composed of Global Infrastructure Partners and Allianz, and Fraport and RREEF abandoned the bid process, three groups are still fighting for the company:
  • Vinci SA, Europe's biggest builder
  • China's HNA Group Co
 
Hochtief said some days ago that it is "very satisfied" with the sales process. Several people familiar with the matter said four bidders have placed bids of up to EUR1.3 billion.
Genoa Airport in Italy
In Italy, the Port Authority of Genoa is selling 60% of the shares of "Cristoforo Colombo" airport of Genoa  (5 million annual passengers) . The tender was launched in June and expression of interests were submitted in July. According to Reuters, six consortia have submitted offers. F2i, the fund managed by Vito Gamberale is understood to be among these bidders. Remember that F2i, acquired a controlling stake (65 %) in Naples Airport from Ferrovial back in 2010. The other current shareholders of  "Cristoforo Colombo" airport of Genoa are Camera di Commercio (25%) e Aeroporti di Roma (15%).
Genoa Airport
According to TFI News, there are five bidders and the final bid process commenced on September 5th. The five bidders are: F2i, Vinci, Limak Yatirim, a US pension fund and the Argentinian group headed by Eduardo Eurnekian.
Madrid and Barcelona airports in Spain
In Spain, the government is trying to sell more than 90 percent of the shares of the two main airports in the country, Madrid Barajas (50 million annual passengers) and Barcelona-El Prat (30 million annual passengers). The prequalification stage ends in September 5th and final bids must be submitted by Novemeber 2011. Tender ocuments can be obtained here.
Madrid Barajas Airport
Spanish government is looking for bids greater than 3.7 billion euros for Barajas and 1.6 billion euros for El Prat. The concession contracts will have a duration of 20 years, extendable by a further five years.
There is high uncertainty surrounding these processes as the current Spanish government has called for early Presidential elections for November too. We will see how they manage to award the contract if there is a new government.
 
Royal Bank of Scotland is advising the government on the transaction and is also co-ordinating the sale the sale. Spanish firms such as Abertis, FCC, Ferrovial (BAA Airports) and Acciona have shown interest in the sale.
Barcelona-El Prat airport
Bids were submitted on September 5th. The following consortia submitted qualification documents for Madrid airport:
  • Ferrovial, Canada Pension Plan Investment Board (CPPIB) and Macquarie (throug IFM) and Infinity Investments
  • India's GMR Infrastructure,
  • Singapore's Changi Airport, Siemens Project Ventures and Spain's FCC.
  • French Aeroports de Paris, Global Infrastructure Partners and Allianz.
  • Germany's Fraport and Spain's Acciona
  • Spain's Grupo San Jose, Cedicor (controller of Aeropuertos Argentina 2000) and Global Mirobriga
The following consortia submitted qualification documents for Barcelona airport:
  • Abertis, Axa (through Ibervias) and Borealis
  • Ferrovial, Canada Pension Plan Investment Board (CPPIB) and Macquarie (throug IFM) and Infinity Investments
  • India's GMR Infrastructure,
  • Singapore's Changi Airport, Siemens Project Ventures and Spain's FCC.
  • French Aeroports de Paris, Global Infrastructure Partners and Allianz.
  • Germany's Fraport and Spain's Acciona
Incheon Airport in Korea
South Korea's government has decided to offer a 15 percent stake in Incheon International Airport Corporation. The privatisation plan must still pass a parliamentary vote on a revised bill.
Incheon International Airport
It is important to know that Incheon Airport  acquired a 10% stake in Khabarovsk Novy Airport in Russia in July - its first equity investment in an overseas gateway.
Medinah Prince Mohammad Bin Abdulaziz Airport
A consortium formed by the Turkish aviation group TAV Airports Holding and the local companies Al Rajhi and Saudi Oger has won the 25-year build-operate-transfer at Medinah Prince Mohammad Bin Abdulaziz Airport. Each firm has a 33% participation stake in the consortium.
The contract valued at $1 billion to $1.5 billion. The consortium will be paying an annual concession fee based on revenues generated. The Build Operate Transfer (BOT) tender is for a concession period of 25 years.
Dubai International Airport
Other bidders included:
  • Quba'a ConsortiumSaudi Binladin Group, Aéroports de Paris Management and Bouygues Bâtiment International;
  • Saudi Airplex Consortium of: El Seif Engineering Contracting Co., MMM Group Limited, ADC & HAS Airports Inc. and Emirates NBD Capital/Emirates Financial Services;
  • Saudi-Malaysian consortium of: Bakri International Energy Company, Malaysia Airports Holdings Berhad, Almabani General Contractors - Impregilo SpA and Riyad Bank.
Other four groups that were prequalified did not submit bid in the last phase of the tender:
  • Airports Company South Africa
  • YDA INSAAT SANAYI VE TICARET, AENA Desarollo Internacional, OHL Concesiones
  • Integrated Transportation Company, Incheon International Airport Corporation, Central Japan International Airport, and Samsung
  • Limak Investment, GMR Infrastructure, and MAPA Construction
Antofagasta Airport in Chile
Eight companies submitted bids for Cerro Moreno airport in Antofagasta, Chile. The total investment value of the contract is around $30 million. The concession period is 15 years. The project includes expanding the terminal by 2,000sqm and remodeling 5,000sqm of the existing building. The list of companies that submitted bids is the following:
  • Agencias Universales S.A;
  • Besalco - Arrigoni;
  • Claro Vicuña-Con Pax;
  • A Port Chile; Echeverría Izquierdo S.A;
  • Empresa Constructora Belfi S.A;
  • Icafal Inversiones S.A
  • OHL Concesiones S.A.
Future airport in Antofagasta, Chile
During August, we discovered that A-Port Chile (a joint venture between Brazil's Camargo Corrêa, Switzerland's Flughafen Zürich and Chile's Gestión e Ingeniería IDC) has submitted the best bid to operate Cerro Moreno Airport in Antofagasta.
Airports from BAA (Ferrovial) in the UK
As we said before BAA has to sell Stansted and either Glasgow or Edinburgh airports in the UK, which BAA has been ordered to sell by the UK's Competitive Commission.
Earlier this year, BAA CEO, Colin Matthews, stated that Stansted would bring at least $2 billion. Analysts believe Glasgow is worth around $800 million and Edinburgh nearly $1 billion.
BAA has already sold Gatwick, disposing of the airport in October 2009 for £1.5bn to Global Infrastructure Partners (GIP), a fund supported by General Electric and Credit Suisse.
Brazillian Airports
On July, 25th, ANAC launched a Call for Projects (CFP) addressed to national and international companies interested in submitting projects to structure the concession for expansion, maintenance and operation of the airports in Brasilia (JK), Campinas (Viracopos) and Guarulhos (Guarulhos International).During August, Infra-America, a joint venture between Brazilian engineering contractor Engevix and Argentine conglomerate Corporación América has emerged as best bidder for the concession to build and operate the São Gonçalo do Amarante airport near the northeastern Brazilian city of Natal.The consortium has three years to build the airport and it will hold rights to operate the airport for 25 years with a possible extension of five years.
Lekki-Epe International airport in Nigeria
The Lagos Airport Development Committee has requested expressions of interest for the development of phase 1 of the Lekki.Epe International airport under a design, build, finance,operate and maintain concession agreement for the duration of about 15 to 25 years.
The phase 1 includes:
  • Airport terminal building
  • Air traffic control facilities
  • Airfield ground lighting
  • Navigation air and aircraft ground services
  • Digital surveillance for transportation
  • Baggage and cargo handling systems and equipment
  • Airport terminal and runway cleaning
See Request for Expression of interests.
Bugesera International Airport in RwandaThe Government of Rwanda has developed a strategy for active participation and involvement of the private sector in infrastructure development towards national growth, through Public Private Partnerships. In this regard, the Government intends to build a new airport - the Bugesera International Airport under a PPP contract. The Government now invites Expressions of Interest from qualified and reputable airport operators for a Design, Build, Finance, Maintain and Operate (DBFMO) 25 year concession agreement.
Donwload Request for Expression of Interest.Other airports in Africa
Kenyan and Tanzanian authorities for setting up of new new airports in these countries. The Kenyan government is planning to set up a new international airport at Taveta on the border with Tanzania. TAV Airports is said to be interested in the possible tender under the public private partnership method.
Indonesia's Plan for airports
The Indonesian government had announced a plan to develop 14 new airports in the country, many of them in the eastern parts of the country. Ministry of Transportation Bambang S. Ervan said that the 14 new airports will be built in the eastern part of Seram (Kuffar), Bone, Enggano, Muara Bungo, Muara Teweh, Morowali, Saumlaki Baru, Sinak Baru, Tojo Una-Una, Tual Baru, Wagete Baru, Waisai Raja Ampat, Nam Niwel and Sumarorong.
Interesting books:Discount Rates for the Evaluation of Public Private Partnerships (John Deutsch Institute for the Study of Economic Policy)International Project Finance in a Nutshell (Nutshell Series)Infrastructure as an Asset Class: Investment Strategy, Project Finance and PPP (Wiley Finance)
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