Dec 30, 2013

The Brazilian Development Bank (BNDES) has approved long-term financing in the amount of R$ 1.5 billion to the concessionaire of the Viracopos International Airport, located in Campinas, São Paulo. The Bank's participation corresponds to 62.6% of the total investment.

In December 2012, the company Aeroportos Brasil Viracopos had already received a bridge loan of approximately R$ 1.2 billion.

Besides long-term financing from the BNDES, the concessionaire will issue infrastructure debentures in the amount of R$ 300 million. This issue will be made to the market and the BNDES’ board of directors has already approved the institution’s participation.

These debentures will be of what is known as the “simple’ type, which cannot be converted into shares. A tax incentive will be provided under Law Nº. 12,431/20 because they are for infrastructure. That is, individual investors and for foreign investors will be exempt from paying income tax, and companies will only have to pay a rate of 15%.

Aeroportos Brasil Viracopos is a Specific Purpose Company (SPE), whose partners include Infraero, with 49% of the total capital, and Aeroportos Brasil S/A, with 51%.

Aeroportos Brasil is controlled by UTC Participações, as well as Triunfo Participações e Investimentos SA, and the international airport company Egis Airport Operation, which operates in 13 airports across the world, besides Viracopos.

With resources form the BNDES, the concessionaire for the Viracopos Airport will invest in expanding and modernizing the airport by December 2014. Among the proposed works is the construction of a new terminal, with the initial capacity for 14 million passengers, and may reach up to 22 million. Today, the airport operates with a single terminal, serving more than 9 million passengers per year.

Social investments of R$ 7.4 million are also in the pipeline. These resources will be aimed at serving the population in the Campinas metropolitan region.

Generating jobs – In the first implementation phase of the project to expand and modernize the airport, some 5,600 direct jobs will be created. Additionally, it is estimated that some 4,602 jobs related to the supply of inputs for the works will be created, while 3,540 jobs are expected to be opened by equipment and material suppliers.  Logistics, transport, meals etc should create some 1,062 jobs. In the first phase of the project, the concessionaire should employ some 1,083 people for airport operations.  In addition, some 930 outsourced workers are expected to be hired.