El Dorado International Airport

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In September 2006, Aerocivil, the Colombian national airport authority and Operadora Aeroportuaria Internacional OPAIN signed a 20 year concession agreement to expand and operate El Dorado International Airport in Bogota. Aerocivil sought a concessionaire to build: a new international passenger terminal, a runway for smaller aircraft, a new cargo terminal, and access roads connecting the airport to the Transmilenio public transport system. The existing runways were operated by a private concessionaire (project #848), so OPAIN would be limited to operating the El Dorado Terminal until the new terminal and runway were built. The bidding was carried out by Aerocivil, the Colombian airport authority, and supervised by the consultancy KPMG, to ensure transparency. Five groups posted bids: El Dorado S.A.; Nuevo Milenio S.A.; AER Dorado S.A., formed by the firm Stratis; Operadora Aeroportuaria Internacional OPAIN; and ASA Internacional El Dorado S.A. On July 25, 2006 the first group eliminated was El Dorado S.A., owned by Corporacion America S.A., because the committee deemed its proposal unsound. The groups Nuevo Milenio S.A., and AER Dorado S.A. were allowed to resubmit their proposals after being deemed unacceptable. Operadora Aeroportuaria Internacional OPAIN and ASA Internacional El Dorado S.A. were both approved without reservation. On August 24, 2006 Aerocivil awarded the contract to Operadora Aeroportuaria Internacional OPAIN in the final round of bidding. The main criteria used for the bid was the percentage of revenue offered to Aerocivil by the new concessionaire. The bidding criteria specified that the government must choose an offer that is in the median plus 11% or 47.75%. The Colombian government’s intention was to ensure that the concessionaire would be able to remain financially solvent throughout the operation. The bids presented were as follows: Promesa de Sociedad Futura El Dorado Nuevo Milenio 49.5250% Promesa de Sociedad Futura Sociedad Conceionaria- OPAIN 46.1600%* Promesa de Sociedad Futura ASA Internacional El Dorado S.A. 36.7500% Promesa de Sociedad Futura Aer Dorado S.A. 35.1600% Promesa de Sociedad Futura Concesion El Dorado S.A. 35.1500% OPAIN offered 46.16% of its revenue plus an additional 5% that was stated in the bidding rules. A grand total of 51.16% of its revenues were to be paid to Aerocivil every six months. OPAIN is comprised of the following companies: Grupo ODINSA S.A., CSS Constructores S.A., and Grupo Condor Inversiones. S.A., Marval S.A., Termotecnica Coindustrial S.A., Arquitectura y Concreto S.A., Consultoria Colombiana S.A., Flughafen Zurich AG, Construcciones El Condor S.A., Luis Hector Solarte Solarte y Carlos Alberto Solarte Solarte. The contract reached financial closure when the contract was signed in December 2006. OPAIN officially entered operations on January 19, 2007. The contracted obligated OPAIN to invest $650 million to upgrade the status of its airports and to demonstrate financial backing for the upgrades by the end of the second quarter of 2007. The new terminal was expected to become operational by the end of 2010. In December 2010, the Inter-American Development Bank approved a US $165 million senior loan to help fund the roll out of the new terminal. This was co-financed by a US $50 million loan from CAF. In November 2016, Odinsa increased its shareholding in OPAIN to 65% in a transaction worth US$ 152 million.