Mitsubishi Estate consortium signs on Takamatsu Airport concession
A consortium led by Mitsubishi Estate has signed the concession agreement to operate the Takamatsu Airport in Japan.
The consortium is comprised by Taisei, Pacific Consultants and Symbol Tower Development. It won the tender for the airport located in Shikoku with a bid of JPY5 billion (US$45 million), after increasing the financial component of its bid in the second round.
The Minister of Land, Infrastructure, Transport and Tourism (MLIT) started the tender process in September 2016. The privatization initially attracted six groups, which were shortlisted to three in January in 2017.
The Mitsubishi-led group was selected as preferred bidder on 26 July for the 15-year concession to operate the airport. The concession can be extended to 55 years.
Apart from Mitsubishi Estate consortium, the other two shortlisted teams were led by Orix and Anabuki Kosan.
The private sector outsourcing of the operation of Takamatsu Airport is the very first private consignment arrangement in Japan in the case of relatively small-sized local airports. (Annual number of passengers: approx. 181,000 in 2015). MLIT aims to invite new air routes and improve customer services as well as to attract inbound tourists and LCC demands by making full use of private know-how through integrated operation of the runway and the passenger terminal by a private enterprise.
EY advised the Ministry on the privatization.
As we reported in June, MLIT started another tender process to privatize the operation of Fukuoka Airport.
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