Aeroportos de Portugal (ANA), a subsidiary of Vinci Airports and concessionaire of 10 airports in Portugal, has signed a €1.15bn agreement with the Portuguese government for the extension of the airport capacity in the Lisbon region.
The agreement seals the consensus between the parties on the main technical, operational and financial assumptions of the project and the evolution of the future economic regulation.
The concession agreement is expected to be signed in 2019 once the environmental authorisations have been obtained.
As part of the agreement, ANA will invest €1.15bn by 2028, including €650m in the first phase of the extension of the existing Lisbon airport, and €500m for the opening of a new civil airport in Montijo.
In addition, €156m will be used to compensate the Air Force and to contribute to access works in Humberto Delgado and Montijo.
As stipulated by the Portuguese government, the project will be financed by the private sector, while maintaining the competitiveness of the Lisbon hub through a moderate evolution in airport charges.
The project involves a new dual system of airport infrastructure, enhancing the hub function of Humberto Delgado Airport through additional contact positions and reduced connecting times, and a point-to-point flexible, cost-effective and sustainable airport in Montijo, located near the city centre (25km) and offering a new generation terminal.
With a target capacity of 48 air traffic movements (ATM) per hour in Humberto Delgado and 24 ATMs per hour in Montijo, the dual airport system will be able to absorb the expected growth of traffic until the end of the concession in 2062.
Vinci Concessions CEO and Vinci Airports president Nicolas Notebaert said: “This project and this investment we are announcing today mark a new confirmation of the two main commitments we took 6 years ago, when we first applied for the privatization of ANA: to contribute to the development of the Portuguese economy by increasing traffic, and to invest in infrastructure to support future growth.
“Traffic in Lisbon has already increased by almost 100% in the last 6 years and here we are again announcing new investments after the 200 million euros we have already invested in the different Portuguese airports.”
Image: Lisbon Airport. Photo: Courtesy of VINCI Airports.