Colombia's Ministry of Transport has announced the award of the Ernesto Cortissoz - Barranquilla International Airport concession to a team composed by local companies.

The consortium called "Aeropuertos Colombia SPV" is formed by Valores y Contratos - Valorcon (41,5%); Equipo Universal (41,5%) and Inversiones Millenium Azipo (17%).

The team beat out competition from Peruvian construction company Graña y Montero.The winning team offered the highest percentage of revenues to share with the government as a consequence of the operation of the airport, 14.6 %. Graña y Montero offered 14.1 %.The total investment for the Barranquilla International Airport is estimated at P$345,543 million (US$156.5 million).

The public private partnership contract includes the design, construction and maintenance of Barranquilla International Airport. It involves the total pavement upgrade, the upgrade of the lighting system and the passenger terminal, the provision of new equipment and the development of a new cargo terminal, among others.

It is expected the the new concessionaire starts to operate the airport during the first quarter of 2015.