Region: Latin America and Caribbean
Country: Costa Rica
Keywords: Contractual Provisions, Airport, Transport, Transport Core
Concession agreement for the design, construction, operation and maintenance of a new passengers terminal of the Daniel Oduber Quiros Airport entered into by and between the Government of Costa Rica and Coriport S.A. and the Coriport Consortium following the contractual type of “Concession of Public Work with Public Services” under the Concessions Act (in Spanish).
- The agreement is for 20 years (including construction).
- All key operating risks are borne by the private sector (clause 15.1).
- Agreement provides for a financial re-equilibrium clause for both private and public parties. Concessionaire is to be paid USD7 out of the USD26 charged from each passenger as “air exit fees”. Concessionare also to be paid fees for associated services (eg, parking) and an aeronautical service fee for the use of boarding bridges.
- The agreement provides for an optional “Guaranteed Minimum Income” (GMI) mechanism whereby the government guarantees minimum incomes during the first 15 years of the concession based on a projection of the number of international passengers (clause 8.13) which the concessionaire has already declared to accept.
- The concession land is state-owned lands required for the development of the works described in the agreement. The works and assets of the Agreement, as well as their improvements, belong to the State of Costa Rica, and are not transferable. The concessionaire does not have any personal or real property rights over the works and the public domain object of the concession.
Tracking Reference: Concession Agrement for Daniel Oduber Quiros Airport Passenger Terminal_ES.pdf
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Updated: September 30, 2021