Sojitz Corporation and Japan Airport Terminal have set up Palau International Airport Corporation—a joint venture to manage operations at Palau International Airport—together with the government of Palau.

Furthermore, the companies have concluded a contract with the government which will entrust them with airport operations for a 20-year period. This will be the first time for Sojitz and Japan Airport Terminal to participate in this kind of airport operations project overseas.

Total costs for the project are estimated at approximately JPY3.5 billion (US$32 million), as it will entail not only refurbishing and expanding the existing international terminal to meet rising passenger numbers in Palau, but also administration and maintenance. Operations and remodeling/expansion work is scheduled to begin between March and May 2018, once the Palau government completes their in-kind investment and project handover.

Palau International Airport is the country’s sole international airport, and in recent years, it has grown in importance as the number of tourists and other visitors to Palau continues to increase.

Through this project, Sojitz and Japan Airport Terminal aim to help create sustainable social and economic growth in Palau, a country for which tourism remains a core industry.