The Latvian capital of Riga looks to enlarge its airport terminal to accommodate 10 million travelers annually.
Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY) subsidiary AFI Europe NV is participating in a tender to build a new terminal at the Riga International Airport in Latvia.
AFI Europe's partners are a Canadian contractor, a Morgan Stanley infrastructure fund, and Italian airport operator SAVE. The project's cost is estimated at €250 million, and will include the building of infrastructure and operation of the terminal under a long-term lease, including duty free shops, parking lots, and commercial and service space. The project does cover the aviation side of the terminal or airport, such as the extension of runways, which is under the jurisdiction of the Latvia Civil Aviation Agency.
The new terminal is part of the Latvian government's plan to expand the Riga International Airport to handle ten million travelers a year. The project is a Private Public Partnership.
Published by Globes [online], Israel business news - www.globes-online.com - on September 10, 2008
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