AA2000 consortium set to make changes at Carrasco

URUGUAY. The Cerealsur consortium is scheduled to take over operation of Montevideo’s Carrasco International airport from 21 November, according to Uruguay’s national development corporation CND.

In August (The Moodie Report, 28 August 2003) the consortium presented a US$34 million offer for shares in the airport’s current concessionaire Puerta del Sur, more than double the US$15 million benchmark set by the government for the 30-year contract. CND, a private entity that helps support and manage projects that promote investment in Uruguay, structured the sale on behalf of the public sector.

The privatisation of the airport is likely to include a review of all operations, including the duty free shops, currently run by Neutral, and the cargo terminal run by Vinalcor.

Puerta del Sur and its new owners are required to present a proposal for updating the passenger terminal by February 2004, followed by a master plan for the whole facility.

Argentine airport concessionaire Aeropuertos Argentina 2000 (AA2000), Milan airports operator Società Esercizi Aeroportuali (SEA) and US investors make up Cerealsur.

Local reports said SEA will be directly responsible for operating the airport, including duty free shops.

Note: AA2000 operates 32 airports in Argentina and is owned by Corporacion America Sudamericana (35%), SEA (28%), Simest Spa (8%), Ogden Corporation (28%) and RIVA (1%).

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