Brasilia Airport

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In February 2012, Consorcio Inframerica was awarded in a competitive bidding process the contract to expand and operate the airport located at the city of Brasilia (Distrito Federal). Consorcio Inframerica was established as a partnership of the Brazilian company Infravix Participacoes (50%) - a subsidiary of Grupo Engevix - and the Argentine company Corporacion America (50%). A special purpose company named Inframerica Concessionaria do Aeroporto de Brasilia was created to manage the project, 51% owned by Consorcio Inframerica and 49% owned by the state-owned company Infraero. The 25-year contract was signed with the regulatory agency in June 2012, and the private sponsors took over the operations of the facilities in October 2012. Besides Consorcio Inframerica, ten other companies took part in the contest (information on these companies was not available). The bidding criteria set by the regulatory agency ANAC was the highest payment for the concession rights. Consorcio Inframerica presented the highest offer, a total value of US$ 2306 million (BRL 4.501 billion), 673.39% above the minimum set by the regulatory agency. The payments were set to be made in annual installments over the life of the contract. The project envisaged the rehabilitation of two terminals and the construction of new terminal (the total capacity of the airport was set to increase from 16 to 41 million passengers per year). The total investment in the first phase of the project was estimated at US$ 384.2 million (BRL 750 million), and was financed with a US$ 250 million (BRL 488 million) loan from the state-owned bank BNDES granted in December 2012. Over the life of the contract the total investment is estimated at US$ 1460 million (BRL 2.85 billion). In February 2014, BNDES approved an additional loan of US$ 237.4 million (BRL 558 million).