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Three consortia submitted bids for Peru's US$556 million Cusco airport concession, according to a release from ProInversión, Peru's private investment promotion agency .

The three that submitted bids for the project are:

• Kuntur Wasi consortium: Argentine firm Corporación América and local company Andino Investment Holding;

• Aeroportuario Imperial consortium: Colombia's Grupo Odinsa and Mota Engil Perú; and

• Aeropuerto Chinchero consortium: France's Vinci Airport and Vinci Concessions and Peru's Graña y Montero.

The concession contract will include the design, construction, financing, operation and maintenance of the new International Airport of Chinchero - Cusco. The terminal will replace Cusco's existing Alejandro Velasco Astete airport and is expected to handle 2.6mn passengers annually by 2021.

The total investment amount for the project (including future extensions) is US$556 million (VAT not included). The required investment to start operations is US$ 433 million (VAT not included).

The concession contract will have a period of 40 years.

On February 2nd, 2010, the Ministry of Transport and Communications required Proinversion to release a call for tender to grant the concession.