Transactions - AUGUST 16, 2017

Spanish conglomerate to lead $1.8b Denver airport renovation

by Andrea Waitrovich

The Denver City Council has approved the $1.8 billion public-private partnership for the $650 million Jeppesen Terminal renovation and 34-year concession management deal at Denver International Airport.

Ferrovial will lead the P3 team, which will relocate and modernize security checkpoints, renovate ticketing areas to include more self-check-in kiosks and build a new entry atrium. The consortium will receive $1.2 billion in capital repayments and concession management fees over the life of the contract.

The $1.8 billion project is a public-private partnership with Ferrovial Airport, which will manage concessions on a 34-year contract.

The project will allow the airport to continue to grow to match increasing passenger demand. The anticipated cost is $650 million to $770 million, with a $120 million contingency.

The project could be completed by 2021.

No taxpayer money will be used for the project.

Ferrovial is a global leader in infrastructure development and services. The Madrid-based firm has 74,000 employees and operations in 15 countries.

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