Dec 21, 2012

The BNDES has approved a bridge loan in the amount of R$ 488 million for Inframérica Brasília S.A Airport Concessionaire to start works on expanding, maintaining and operating the Brasilia International Airport - Presidente Juscelino Kubitschek, in the Federal District.

Inframérica is a Special Purpose Company (SPC) that includes Inframérica Participações S.A — comprising the Brazilian company Infravix and the Argentinean Corporación America S.A. (Corporación) — and the Brazilian Airport Infrastructure Company (Infraero).

The consortium led by Infravix and Corporación won the tender for the concession of Brasília airport in February this year. The same private shareholders of Inframérica were also the winners of the bid aimed at constructing and operating the first federal airport to be granted to the private sector: São Gonçalo do Amarante International Airport, to be built in Rio Grande do Norte, for which the BNDES has already approved funding to the tune of R$ 329.3 million.

The financial structure of the Brasília airport project still entails long-term financing which will be structured as project finance. The terms of the financial support will depend on the project analysis presented by Inframérica, which is underway at the BNDES.

Brasília airport is the fourth largest in Brazil, according to Infraero data.  It stands apart as an important connection between the North-Northeast and South-Southeast regions, because it is located in a privileged area in the Central-west region.

Inframérica plans to increase passenger capacity from 15.4 million in 2011 to 20.7 million in 2014, the year the World Cup will be held. In 2016, when Rio hosts the Olympic Games, capacity is expected to reach 24.4 million, and in 2021 and 2031 it will be 31.3 million and 38.8 million, respectively. For this, the number of boarding “fingers” will increase to 28 in 2014, compared to the 13 currently used. The concessionaire plans to reach 38 fingers in 2021 and 47 in 2031. 
      
The consortium also plans to turn the entire airport area into a commercial complex, with the construction of a hotel, a convention center and office rooms. The idea is that Brasília Airport should also house an international logistics center, leveraged by partnerships with major logistics operators.

Initial Interventions – The initial interventions at the airport involve expanding the departure area and the parking lots, creating a VIP Room and preparing the area to enlarge the passenger terminal. According to Inframérica, in the construction phase some 400 direct jobs and 2,000 indirect jobs will be created. During operation, the concessionaire estimates that some 576 direct jobs and 1,000 indirect jobs will be created.