Denver International Airport cancels Denver Great Hall P3 contract with Great Hall Partners
The Denver International Airport (DIA) has moved to cancel the contract with the Great Hall Partners (DGH) for the renovation of the main terminal project under the Public-Private Partnership (PPP) scheme.
On August 12, 2019, The City and County of Denver have exercised its right to terminate the Development Agreement with DGH signed on August 24, 2017. The City intends to continue with key aspects of the Great Hall Project, however without DGH.
The original contract was valued at US$1.8 billion with US$650 million budgeted for the renovation and the rest budgeted for upkeep over the next 30 years. DIA will repay 25% of the renovation costs that Great Hall Partners contributed to the project to the partnership or about US$200 million in bonds.
The new contractor for the project is expected to come in by early 2020.
Great Hall Partners is a consortium of companies that include Cintra, Saunders Construction, Loop Capital, and Magic Johnson Enterprises.
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