Lima Airport signs US$450 million financing for airside development

Jorge Chávez International Airport, Lima ©AirTeamImages

Lima Airport Partners (LAP), which has been part of the Fraport Group since 2001, has signed a US$450 million financing agreement for its airside development program at Jorge Chávez International Airport in Lima, Peru. KfW IPEX-Bank, the Bank of Nova Scotia, Sumitomo Mitsui Banking Corporation, and Banco Bilbao Vizcaya Argentaria – are providing the loan.

LAP’s airside development is of strategic importance, both for Lima Airport, and also for Peru and South America. Lima Airport is a major and popular hub airport for the South American market. The airside development comprises a new 65-meter-high air traffic control (ATC) tower, a new second 3,480-meter runway, 10 kilometers of taxiways, a 250 hectare advanced mid-field apron area for improved aircraft parking capacity, new operational facilities for fire and rescue services, as well as beacons and navigation aids, surveillance systems, and other systems.

Construction of the ATC tower and airfield buildings began in July and is scheduled to be completed late 2021. Construction will soon start on the new runway which is scheduled to be operational by the end of 2022. Dr. Matthias Zieschang, Fraport AG’s chief financial officer, explained the importance of the financing: “This excellent transaction is of paramount significance for the development of Lima Airport. Secured in a very challenging environment, this financing agreement sends out a strong and positive signal about Lima Airport Partners and the entire Fraport Group. Furthermore, the transaction underscores the strong interest and demand from capital markets for financing well-managed airports that have a long-term and positive perspective – such as Lima Airport Partners with its major South American hub airport.”

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