"Hochtief-led consortium wins concession to operate Albanian airport"

Friday, October 15, 2004

Hochtief-led consortium wins concession to operate Tirana airport
Agence France-Presse


ESSEN, Germany, (AFP) - German construction giant Hochtief said Friday that
a consortium led by its Hochtief AirPort subsidiary had won the concession
to operate Albania's Mother Teresa International Airport in Tirana.

Hochtief said that its Tirana Airport Partners consortium -- which alongside
Hochtief AirPort also included the Albanian American Enterprise Fund and the
German investment and development group DEG -- would take over the running
of the state airport for a period of 20 years.

A corresponding agreement was signed by the Albanian government and the
consortium in Tirana on Friday in the presence of Albanian Prime Minister
Fatos Nano, the German group said in a statement.

The deal now had to be ratified by the Albanian parliament and the airport
was expected to go over to private management as early as the winter,
Hochtief said.

Financial details were not disclosed.

Hochtief AirPort holds a 47-percent stake in the consortium, AAEF 21.3
percent and DEG 31.7 percent.

Tirana airport is Albania's only international airport and is currently used
by more than 600,000 passengers each year, Hochtief said.

The consortium will pocket all the income from the airport and pay a
commission fee to the state.

"The concession also brings with it countless expansion and modernisation
measures for the coming years," Hochtief said.

"Construction work for a new terminal is scheduled to commence from the
first year of operation."

Tirana is the fifth airport holding for Hochtief AirPort after Athens,
Duesseldorf, Hamburg and Sydney.


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