Margarita General Santiago Marino International Airport

distressed

The government of Venezuela awarded a 20-year contract to rehabilitate and operate the Margarita General Santiago Marino International Airport. The airport is located in the Nueva Esparta state and is the major gateway to Margarita Island. The award of the contract follows the cancellation of a previous concession for the airport; operator Consorcio CVA failed to meet contractual obligations and had their concession canceled in 2002. A strategic alliance was signed in April 2004 with between the consortium and the government to enable the airport to receive international flights as well as chartered flights. The works will cover upgrading the terminal and handle the estimated 1.5 million passengers per year. Total project investment of US$34 million will be spent on the works and management. Swiss-Chilean consortium Unique IDC, comprising Gestion de Ingenieria IDC and Unique Zurich Airport, holds the new concession. In June 2005, the government took control of the airport facilities. In July 2005, this decision was appealed to a tribunal and the judged ruled in favor of Unique IDC. On December 30, 2005 the government again took control of the airport to execute an audit and maintained posession of the facilities in 2006. None None