CYPRUS. The Hermes Airports Group consortium is close to sealing an estimated US$450 million deal with the Cyprus government to build and operate Larnaca and Paphos airports, a Communications Ministry official said yesterday.
“We are close to a deal but there is no agreement yet. There is still work to be done,” Alecos Michaelides told AFP.
“Up until today we are progressing very well and we expect developments in the coming weeks. I can’t say any more than that,” he added.,
The build-operate-transfer (BOT) project will construct a new airport at Larnaca Airport, earmarked to open in 2007, and another in Paphos for 2006. One of the Hermes Airports Group partners is Aer Rianta International. The Irish company’s Middle East division is likely to take on retail responsibilities at the two airports if the agreement is secured as expected.
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