Project Scope and Objective and IDB Invest Participation
Lima Airport Partners S.R.L. ("LAP" or "the Company") is the exclusive concessionaire to build, operate, and maintain Jorge Chávez International Airport ("AIJC" or "Lima Airport"), the main airport facility for the movement of cargo and passengers to domestic and international destinations in Peru. The AIJC is located in the Constitutional Province of Callao, and is the gateway to the country (85% of international O/D passenger traffic) and a very important hub for South America. Lima Airport is one of the most important in the region, connecting Lima with 19 domestic and 24 international destinations and serving 16 airlines.
In 2015, LAP started creating the conceptual design for the AIJC expansion. Following the handover of the land in October 2018, LAP started construction in 2019. The expansion project is divided into 3 work packages (WP). To date, the first work package (WP1) for earthworks and demolition has been completed; the second (WP2), which includes the construction of a new control tower and runway, is in progress and is expected to be completed in July 2022; and the third (WP3), which includes the design and construction of a new passenger terminal and aircraft aprons, will be awarded to a contractor in August 2021 and construction is expected to take approximately 38 months. The total cost of this expansion is approximately US$1.7 billion.
This transaction will finance the design, development, and construction of the new passenger terminal and aircraft apron, as well as the repayment of an existing bridge loan acquired by LAP for the execution of the initial works (collectively "the Project").