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Alterra Hands Airport Revamp to Houston Co.

May 9, 2008

The company in charge of administering San José’s JuanSantamaríaInternationalAirport will relinquish its reins to a trio of foreign companies, with the approval of Costa Rican authorities.

Alterra Partners did not release details on its deal with Houston Airport System (HAS), ADC Management of Canada and Brazilian company Andrade Gutiérrez Concessions, but the companies will take over the airport’s management and expansion.

In February, the government gave Alterra 60 days to revamp its construction efforts – including new immigration, check-in and boarding areas – or risk losing its contract.

The JuanSantamaríaInternationalAirport project is a $160 million effort, of which $40 million would have been provided by Alterra, according to newswire ACANEFE.

The remaining funds would have come from the International Finance Corporation (IFC), a member of the World Bank Group.

But the IFC never approved lending Alterra – a wholly owned subsidiary of Bechtel Corp. – the remaining funds.

HAS will now take over Alterra’s side of the deal, once it receives the blessing of Costa Rica’s aviation authority and comptroller general.

HAS administers the Houston airport, which accommodated 43 million travelers in 2006 – compared to Juan Santamaría’s 3 million.

 

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