The BVI Airports Authority has signed a contract with a Canadian consultancy company called WSP to recruit investors for the Terrence B Lettsome International Airport.
Managing Director for the Airports Authority, Denniston Frazer did not disclose how much government is paying for WSP’s services but noted that the entire process was ‘going well’.
While explaining the deal with the Canadian company, Fraser said: “They are going to be basically inviting bids from three or four persons to operate the airport as a concession.”
“We would have investors turn in bids to finance, to build, and then operate the airport for a number of years. So, all of that needs to be negotiated and worked out once we come up with bidders,” the Airports Authority boss told BVI News.
Local government is seeking to extend the airport’s runway from 4,645 feet to about 7,100 feet.
Other plans include developing the airport’s terminal into a modern facility.
The entire project has an indicative cost of a quarter-billion dollars ($250 million).
The Premier Dr D Orlando Smith said in exchange for their investment, the government may hand over control of the airport for at least 20 years.
Copyright 2019 BVI News, Media Expressions Limited. All Rights Reserved. This material may not be published, broadcast, rewritten or distributed.