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#104554 - 06/09/05 06:32 AM Goldson International Airport development
Marty Offline
Various agreements have been signed pertaining to the concession agreement and the airport development project at the Phillip Goldson International Airport. The signing was done during a recent meeting between representatives of Government, the Belize Airports Authority and the Belize Airport Concession Company Limited (BACC). Under the Agreement, BACC has undertaken to start with phase one of the airport development project. This first phase will include runway expansion of 2,567 feet, more than 1 hundred thousand square feet of apron expansion to facilitate parking for one additional wide body aircraft, more than 4 thousand feet realignment of the airport access road, upgrading of emergency equipment, an 8 thousand square foot expansion to the Airport Terminal Building and an upgrading of the cargo facilities to include cold storage capacity. A second phase development is also contemplated that will include a major expansion to the airport terminal building, additional apron expansion and landside road improvements. Both phases are due to be undertaken within the first 10 years of the expansion period, and together with ongoing capital investments will total 127 million dollars over the concession period. Phase one of the project is being financed by an equity investment by the shareholders of BACC and by a loan facility from First Caribbean International Bank Limited. In addition to providing 30 percent of the project cost, the shareholders of BACC are also providing requisite guarantees to support the debt. A release from the Belize Airport Concession Company states that there are NO financial guarantees from either government or the Belize Airports Authority. Since assuming responsibility for the management and operations of the PGIA, BACC has been undertaking normal capital improvements to the facilities and has even started with certain components of the Airport Development Project ahead of schedule. Approximately 1 point 5 million dollars has already been spent or committed on capital improvements. BACC is working closely with COCESNA and the Civil Aviation Department regarding the installation of a second radar and instrument landing system that will improve the airport s air navigation capabilities. The release issued by BACC ends by saying that concession agreement entered into with government and the Belize Airports Authority represents a sincere effort to secure and improve a Belizean asset for Belize.

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#104555 - 06/09/05 07:31 AM Re: Goldson International Airport development
Wendy Offline
frown I liked the airport the way it was in 1992!

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