BNDES approves R488m Brasilia airport loan

Washington DC
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Brazilian development bank BNDES has approved a R488 million ($240.4 million) bridge loan for the Brasilia International airport concession.

The debt will be used for initial capital projects at the airport and be replaced by long-term project debt, says the bank.

Inframerica Brasilia SA Airport Concessionaire must invest R2.2 billion in upgrades to the airport over the 25-year concession term. Initial projects include increasing passenger capacity to 20.7 million and adding 15 jetways - for a total of 28 - by 2014. Capacity was 15.4 million passengers in 2011.

The Brasilia airport will be expanded to an annual capacity of 38.8 million with 47 jetways by 2031, according to BNDES.

Inframerica Brasilia owns 51% and Infraero 49% of the concession for the airfield. Engevix Engenharia and Corporacion America, who also own the São Gonçalo do Amarante airport concession, own the concessionaire.