Larnaka and Pafos Airports PPP Project
Country/Region
Project Summary
A 25 year concession contract between the Government of Cyprus and Hermes Airports Limited for the development and operation of international airports at Larnaka and Pafos.
Project Description
PINSENT MASONS PLC
This is a 25 year concession contract between the Government of Cyprus and Hermes Airports Limited for the development and operation of international airports at Larnaka and Pafos. With a capital investment of around ? million, the airports will be able to handle over 10 million passengers annually and further expansion can be undertaken as demand requires. Financial close was achieved on 12 May 2006.
This is the first PPP project undertaken in Cyprus, leading the way for future development opportunities in the country's infrastructure through public private partnerships. It is also one of the largest airport projects in Europe to date.
For this project Pinsent Masons plc were finalists in the British Expertise International Awards 2006.