HOCHTIEF AirPort takes over operations at Tirana Airport

In the presence of the Albanian Prime Minister Fatos Nano and of the Parliamentary State Secretary in the German Economics Ministry, Rezzo Schlauch, HOCHTIEF AirPort (HTA) today laid the foundation stone for the new passenger terminal at Tirana International Airport Nene Tereza. The ceremony, with 200 invited guests, represents a milestone in the transfer of the airport‘s operations to the HOCHTIEF-led consortium Tirana Airport Partners (TAP). The new company took over operations officially on April 23 and just two days later began preparations for the construction work. The transfer of the formerly state-managed airport into private hands has proceeded smoothly.

HOCHTIEF AirPort - together with DEG Deutsche Investitions- und Entwicklungsgesellschaft and the Albanian-American Enterprise Fund - will operate the Albanian capital‘s airport for the next 20 years. During this period, the consortium will receive all revenues from aviation operations. In exchange it will pay a concession fee and has undertaken to modernize and expand the airport and optimize its operations and business systems.

"The agreed financing model is unique in its form. It enables us to provide even smaller airports exhibiting good potential for growth with a high standard of service and nonetheless to operate them profitably," says Dr. Reinhard Kalenda, CEO of HOCHTIEF AirPort and Chairman of the Board of the new airport operating company TAP. The aim is to expand Tirana International Airport quickly into Albania‘s most efficient and modern infrastructure facility. As part of this process an architecturally striking terminal building with the capacity to handle an annual one million passengers is to be erected within the next two years. Parallel to this, the consortium will build further airport facilities and an access road and also restructure and modernize the management systems.

HOCHTIEF AirPort bundles the airport management business of international construction-related services provider HOCHTIEF. The company has been involved in the field of airport privatizations since 1997 and acquires airport concessions. At present, HOCHTIEF AirPort has shareholdings in the airports of Athens, Düsseldorf, Hamburg and Sydney. It has taken over the operation of Tirana Airport within the framework of a BOOT concession agreement. In March 2005, HTA and three financial partners founded the first investment partnership in the airport sector.