Tbilisi Airport

completed

TAV Urban Georgia LLC (“TAV Georgia”) holds a 11.5-year concession (from January 2006) from the Tbilisi International Airport Joint Stock Company to design, finance, construct, maintain, and operate the Tbilisi International Airport (“TIA”). TAV Georgia has the option to extent the concession period by an additional five years by designing, constructing and financing but not operating the upgrade of the Batumi International Airport for approximately $15 million.Anticipated continued growth in traffic at TIA has created the need for substantial upgrade and expansion of the airport facilities to allow the airports to operate at international standards of safety and efficiency and support Georgia’s continued economic progress. The proposed project is expected to cost $76.5 million, includes: - $51.5 million for the construction of a new international terminal and car park, widening of the runway, extension of the apron and taxiways, and upgrade of emergency response services at TIA; - $4 million for acquisition of ground handling equipment at Tbilisi Airport; - $15 million for the construction works and modernization of equipment and systems at Batumi International Airport; and - working capital, insurance and financing costs.