On July 25, 2017, Lima Airport Partners and the Ministry of Transport and Communications signed the Addendum 7 to the Airport Concession Contract. This last update allows the Government to comply with the Concession Contract regarding the handover of 100% of the land, free from interferences, necessary to build the New Airport and in turn initiating the Phase 3 of the Concession.
The Airport Development Program, comprising the overall Phase 3, includes a number of studies carried out by LAP already in 2015 and 2016. Nevertheless, the core of the Program starts in 2017, with the completion of the field studies and the preparation of the Request for Proposals and Project Agreement for the main construction works, which are managed as a megaproject. Also, the preparation of the finance plan is a key event within 2017, as the total cost of this megaproject is financed 100% with private funds, without state cofinancing.
The construction of the New Jorge Chávez International Airport requires from LAP an investment of approximately US$ 1,500 million, which will benefit more than 30 million passengers, the airlines and the overall airport community. But more importantly, it contributes to the positioning of Peru as an Aviation Hub, thus supporting the economy and improving the international perception of Peru in the world.