Puerta del Sur, a subsidiary of Corporación América, has secured a ten-year extension to its concession contract of Carrasco International Airport in Montevideo, Uruguay.
The 20 year concession contract has been extended ten years from 2023 to 2033. In exchange for the extension, the firm will spend more than US$131 million, including an upfront payment to the government of US$23.5 million, US$74 million to promote tourism in Uruguay, US$3 million to redesign Uruguay's air space and US$30million in the terminal.
Martín Eurnekian, Director of Corporación América, stated:
The extension of the concession term allows us to plan new investments in the airport. This will in turn result in better facilities and services for both Uruguayans and tourists visiting the country.
In 2003 the Uruguayan government transferred the administration, operation and maintenance of the airport to the private investment group, which since then invested more than US$200 million in several upgrades of the airport.
On 3 February 2007, construction began on a new and modern US$165 million terminal designed by Uruguayan born architect Rafael Viñoly. It has the capacity to handle 3 million passengers a year, including a much larger parking area built for over 1200 vehicles. This new terminal building has four jetways, separate floors for arrivals and departures and a large viewing area on the top floor. The new terminal was inaugurated on 5 October 2009 with official operations beginning on 29 December 2009. A new US$15 million cargo terminal was also constructed.
Carrasco International Airport is the main airport serving Montevideo, Uruguay, located in the adjoining department of Canelones. It is the largest airport in Uruguay. In 2013 the airport handled about 1.5 million passengers.
Corporación América is an Argentine investment group active in the airport and infrastructure sectors. As an airport concessionaire, Corporación América also owns the majority of Aeropuertos Argentinas 2000 (AA2000), which operates 33 airport terminals in Argentina, and terminals in Ecuador, Peru, Armenia and Italy. Corporación América also acquired the concession rights for Punta del Este Airport until 2019.