• Costa Rica Coffee Guide

Airport Contract Dispute Remained Up in the Air

December 21, 2007

A long-standing contract dispute over the financing of the expansion of the country’s main airport dragged on all year, and no end was in sight as 2007 wound to a close.

Fortunately, the actual construction continued along with the contractual disagreements, and JuanSantamaríaInternationalAirport saw two new boarding bridges and eight new gates open in early December in time for the tourism high season.

The year’s developments continued to pit the banks financing the airport expansion – headed by the International Finance Corporation (IFC) – against the Costa Rican government.

The banks didn’t want to lend the remaining $48 million needed to finish phase two of the expansion until they received some guarantee that the government would allow airport manager Alterra Partners generous enough provisions in a contract addendum to earn fees to pay the money back.

The situation seemed to come to a head in June when the government laid out five conditions that the banks then rejected.

Both sides appeared to give ground in September, with the government agreeing to a five-year extension of Alterra’s contract and the banks agreeing to drop their demand for a $9 million cap on fines that could be levied on Alterra for delays.

But by the end of the year, both sides continued the back-room haggling.

 

You may be interested

Costa Rica coronavirus driving, business restrictions for July 2021 (updated)
Costa Rica
461 views
Costa Rica
461 views

Costa Rica coronavirus driving, business restrictions for July 2021 (updated)

Alejandro Zúñiga - July 1, 2021

The Costa Rican government will maintain driving restrictions in response to continued highs in coronavirus cases. Below are Costa Rica’s…

Route 36 bridge not expected until Wednesday
Costa Rica
284 views
Costa Rica
284 views

Route 36 bridge not expected until Wednesday

Alejandro Zúñiga - July 26, 2021

A bridge reestablishing transit on Route 36 near Penshurst, Limón, isn't expected to be ready until Wednesday, authorities now say.…

Brisa Hennessy reaches quarterfinals in Olympic surfing
Costa Rica
122 views
Costa Rica
122 views

Brisa Hennessy reaches quarterfinals in Olympic surfing

The Tico Times - July 26, 2021

Costa Rican surfer Brisa Hennessy has reached the quarterfinals of the women's shortboard at the Tokyo 2020 Olympic Games. The…

Costa Rica out of Gold Cup as Canada & USA reach semifinals
Costa Rica
248 views
Costa Rica
248 views

Costa Rica out of Gold Cup as Canada & USA reach semifinals

AFP - July 26, 2021

The United States earned the final spot in the CONCACAF Gold Cup semi-finals on Sunday with a hard-fought 1-0 win…

The Tico Times | Top Costa Rica News, Travel, Culture and Sports