Jorge Chavez Airport

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Lima Airport Partners was awarded the contract to expand, rehabilitate and operated Lima's airport during a period of 30 years (renewable for an additional 10 year period). Lima Airport Partners is a consortium made up of Bechtel wiht 42.75%, Flughafen Frankfurt (Fraport AG) with 42.75% and Cosapi with 14.5%. The sponsors will invest a total of US$ 100 million in the airport infrastructure in the first three years of the contract (a new terminal will be constructed, as well as a new runway). Peru's transport ministry amended the concession contract in 2003 calling for US$110 million investment by February 2005, instead of the previous US$100 million by August 2004. The company will transfer 46.5% of the airport gross revenues to the government. Lima Airport Partners took over the management of the facility in Feb. 2001, and construction works were expected to start by the end of 2001. In 2001, the airport served a total of 4.5 million passengers per year, and this volume should increase to 16 million by 2020. Lima airport accounts for 97% of Peru's total international traffic and 99% of its air-cargo business. Under the initial contract, the concessionaire was responsible for constructing a new runway during 2012. This contract condition was amended in 2003 whereby the Peruvian ministry had until February 2009 to submit land to Lima Airport Partners. The concessionaire would thereafter be obliged to complete construction of the second runway by February 2014. In 2007, Fraport bought 100% of the shares of Lima Airport. Up to a maximum of 40 percent of the shares will be sold to Peruvian investors and the World Bank investment fund (IFC), whereby Fraport was to retain at least 60 percent over the long term. http://www.miga.org/screens/projects/guarant/regions/lac02/fraport-peru.htm According to BNA the Shareholding in Jan 2009 was: Fraport AG (70.01%); the World Bank's International Finance Corporation (19.99%); and Peru's Fondo de Inversiones en Infraestructura, Servicios Públicos y Recursos Naturales, an investment fund administered by AC Capitales SAFI (10%).