Aeropuerto de Margarita

Cancelled

The project includes the rehabilitation and expansion of the airport at a cost of US$100 million (financed with resources from the sponsor and federal and state government funds) and operation for a 20-year period. The construction works were completed in Nov. 1997. The sponsor will retain 85% of the revenues and will transfer 15% to the government (the terms of the contract have been recently questioned by the state government, which threatened to cancel the concession; currently, the sponsor and the state government are renegotiating the revenue distribution). The passenger flow increased by 25% in 1997. In the third trimester of 2001, the government canceled the contract with Consorcio CVM claiming that the operator did not fulfill it's contractual responsibilities. The contract was reawarded in 2002 to a consortium of Chile's Gestion e Ingenieria IDC and Swiss company Unique but the final government approval was expected to be reached in early 2004. None None