11-Aug-2010 11:39 AM

Ecuador signs New Quito Airport finance deal

Ecuador's New Quito International Airport signed a renegotiated financing deal for its construction on 09-Aug-2010 (Dow Jones, 10-Aug-2010). In Oct-2010, Quito's mayor, Augusto Barrera, commenced talks for the renegotiation of the airport-construction contract held by Corporacion Quiport SA. The new deal will see Quito's revenue from the project increasing from USD295.7 million to USD877.7 million over the 35-year contract. The original contract was signed in 2001. The new airport is scheduled to commence operation by Nov-2011. The new financing deal requires approval from Ecuador's attorney-general's office and other government organisations.