Greek Government to invite bids for concession to build and operate airport in Crete

Greek Government announced plans to invite bids for a concession to build and operate a EUR1 billion airport in Crete (Reuters, 01-Sep-09). The government plans to contribute EUR220 million to the construction project, and will hold a 55% stake in the airport's operating company. The winning bidder will own the remaining stake and operate the airport over 35 years. The airport, to be operational in 2015, will have capacity to handle up to 10 million passengers p/a. Bids must be submitted by 09-Feb-2010 with the winner to be announced in 1H2010.