Aviation Consultancy

Company Mott MacDonald
Date 25.07.2011

Cyprus Airports Concession

Terminal buildingMott MacDonald is acting as Lenders Technical Advisor in the construction of the new passenger terminals at Larnaka and Pafos airports
 
Hermes, an international consortium formed from nine companies in the fields of construction, retail and airport operations, successfully tendered for a build operate transfer concession to build new terminals at Larnaka and Pafos airports. The contract also included a 25 year concession to operate both airports.

Mott MacDonald was appointed as lenders technical advisor to undertake a due diligence study on the proposed development and operations at the two airports. On attaining financial close for the project, we were asked to continue the role as lenders technical advisor throughout construction.

The work undertaken includes a review of all detailed design packages issued by the construction contractor (Bouygues Batiment) as well as other related documents; monthly site visits to assess construction progress in line with a milestone payment schedule; and extensive consultation with the Intercreditor Agent, the concessionaire (Hermes), and the construction contractor to ensure that any issues can be resolved effectively.

A monthly report is issued to the lenders outlining progress and any potential issues and risks associated with the development.

Contact

Mott MacDonald Limited
Mott MacDonald House
8-10 Sydenham Road
Croydon
United Kingdom
CR0 2EE
  • +44 (0)20 8774 2000