TORONTO — Aecon Group has announced that a consortium it leads has been selected by the U.S. Virgin Islands Port Authority to redevelop the Cyril E. King Airport in St. Thomas and the Henry E. Rohlsen Airport in St. Croix.
The consortium works together as the VIports Partners, stated a release. The project delivery model will be a collaborative design, build, finance, operate and maintain P3.
VIports is comprised of Aecon, Tikehau Star Infra, Consigli Benton Joint Venture (J. Benton Construction) and Avports. Aecon Concessions will hold a 50-per-cent equity interest in the 40-year concession with Tikehau Star Infra also holding 50 per cent of the equity.
Aecon, as design-build lead, will also have a 50-per-cent interest in the design-build joint venture together with local partner J. Benton Construction. Avports will serve as the operations and maintenance partner.
Under a transition phase agreement, VIports and the port authority will negotiate and finalize various elements of the project over a nine-month period. Upon successful completion of the transition phase, financial close is expected in the first quarter of 2025.
“We are pleased to be selected for this transformational project, bringing our experience delivering airports globally and our team’s comprehensive expertise to the full project life cycle,” said Aecon CEO Jean-Louis Servranckx in a statement.
Steve Nackan, president of Aecon Concessions, added, “This historic project for the U.S. Virgin Islands will significantly improve service levels and capacity, modernize amenities and passenger experience, and enhance the resiliency and sustainability of the airports.”
Recent Comments