Etiqueta: Creta airport

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GMR Airports Ltd, Terna Groups signs concession agreement for construction of Intl Airport in Greece

GMR Infrastructure Limited on Friday said that its subsidiary GMR Airports Limited and its Greek partner Terna Group have signed a concession agreement for construction of the new International Airport at Crete in Greece.

The concession agreement involves design, construction, financing, operation and maintenance and exploitation of the new International Airport of Heraklion at Crete.

The Concession Period for the project is 35 years including Phase 1 Construction of 5 years, GMR said in a release here.

Greece is one of the leading International tourist destinations, attracting nearly 27 million tourists per annum.

Crete is largest and most visited island in Greece. Heraklion Airport, located in Crete, is the second largest Airport in Greece and has registered traffic growth at a CAGR of 10 per cent per annum over the past three years.

The current airport is facing a severe capacity constraint and will be replaced by the new airport at Kastelli.

The consortium intends to invest over 500 Million Euro for development of the new airport.

The entire project will be funded through a mix of equity, accruals from the existing airport, and financial grant being provided by the Government of Greece; therefore, debt is not required in this project.

Commenting on the development, Mr. Srinivas Bommidala, Business Chairman, Energy and International Airports said, this is GMR Group’s first foray in the EU region and we eagerly look forward to expanding our footprint in the EU.

The signing of the Concession Agreement is a significant milestone in the growth journey of GMR Airports’ and reinforces our leadership position, he said.

The New Heraklion airport project is a landmark PPP project for Greece and it is a matter of great pride for the GMR Group to work on this prestigious project, Mr Srinivas added.

Source: United News of India.

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New airport in Crete: First steps for its construction

Ariadne Airport Group has officially been named contractor for the construction and operation of Crete’s highly-anticipated Kastelli Airport with works expected to begin next year.

A consortium made up of Greek construction firm GEK Terna and India’s GMR Airports Limited (GAL), Ariadne Airport Group takes on the 480-million-euro project for a concession period of 32 years.

The venture involves the design, construction, financing, operation and maintenance of the airport slated for opening in 2022-23. Construction and renovation works are estimated at lasting five years.

The new airport is scheduled to replace the existing Heraklion Airport “Nikos Kazantzakis.”

The key infrastructure project for Crete must first be examined by a court of auditors and then go to parliament for approval, which local media reports say will be by the end of 2018.

Ariadne Airport Group was tentatively named contractor last year.

To be erected in Heraklion, Crete’s capital, Kastelli Airport is expected to handle more than seven million passengers a year replacing the current Nikos Kazantzakis facility.

Once the project moves forward, it is expected to spur works on a number of other key infrastructure projects on the island, including the completion of the so-called north road axis and several peripheral roadway networks.

Source: GTP Headlines

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Heraklion New International Airport in Crete receives «green light» from Brussels and heads for the Court of Auditors

An important step was taken regarding the tender for the concession project concerning the construction and operation of the New International Airport in Kasteli, Heraklion in Crete island. According to DG Comp, the project has been approved, allowing it to head for the Court of Auditors and consequently to the Greek Parliament for its final ratification.

According to estimates Phase 1 is due to begin by the end of the year and last for 5 years. This will bring us to the end of 2023, when it is expected to be released to commercial operation.

The concessionaire is Ariadne Airport Group J/V (consisting of GEK TERNA and the Indian GMR Airports Limited) with a 54% stake and the Greek State with 46%. The concession company will be holding the management of the new Heraklion Airport that, until today, is still second in Greece, in terms of passenger traffic, second only to Athens International Airport, «El. Venizelos».

The modern airport that will replace the existing and dated «N. Kazantzakis» Airport in Heraklion, will follow the highest construction standards. The total building area of 71,818 sq.m. will be bioclimatic and will be in architectural «harmony» with the environment,.

The airport will have 19 waiting lounges for the passengers, 2 fire stations, a police station, medical facilities, ground handling facilities and equipment, a bio-waste management unit, parking facilities with a capacity of, at least, 800 vehicles, spaces to serve at least 50 buses, 150 taxis and 20 mini vans as well as parking spaces for public transport.

Source: Ypodomes.com

Note: The last years (june, 2017) GMR Airports Limited will be the designated Airport Operator in the consortium for this project,» said a release from the airport company.

The scope of the project involves Design, Construction, Financing, Operation, and Maintenance & Exploitation of the New Heraklion Crete International Airport. The concession period for the Greenfield project will be 35 years including Phase 1 Construction of five years. This will be GMR Group’s second foray into Europe after having developed Istanbul’s Sabiha Gokcen airport.