Aeropuerto de Margarita
Sector: Aerospace & Defense • Location: Venezuela, RB
Source: World Bank Group
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 que
- Status
- Failure
- Sector
- Aerospace & Defense, Airport, Government
- Location
- Venezuela
- Updated
- 22 Jul 2026
- Source
- World Bank Group
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Project Information
Participants
Sponsoring Agency | |
Company |
Status
Original status | Cancelled |
Taiyo status | Failure |
Taiyo last update | 2026-07-22 |
Contact
| Not available for this record. |
Description
Description | 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 |
Original sector | Transport |
Procurement method | |
Budget |
Location
Country | Venezuela |
Source
Source | World Bank Group |
URL |
More Details
Record type | Project |
Sector | Aerospace & Defense, Airport, Government |
Article published date | 2024-09-20 |
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