Airport operator Ferrovial Airports, part of the Great Hall Partners consortium, has signed an agreement with Denver International Airport in Colorado for the redevelopment and operation of the Jeppesen Terminal. The 34-year concession represents an investment of US$650m, with financial closure of the deal expected in the fourth quarter of 2017.
The other members of Great Hall Partners include Saunders Construction and JLC, an investment fund created by Loop Capital and Magic Johnson Enterprises. Ferrovial Agroman will participate in the construction work.
Jorge Gil, CEO of Ferrovial Airports, said, “We are very happy to have successfully achieved commercial closure of the project and to be able to continue working on the development and implementation of a new Great Hall that will provide numerous benefits for Denver and its community. We are grateful for the trust placed in our teams and we are fully committed to realizing the vision for Denver International Airport and making it America’s favorite hub.”
Ferrovial Agroman, in consortium with local company Saunders Construction, will handle the construction work. The Great Hall project consists of upgrading more than 70,000m2 (750,000ft2) of floor space in the Jeppesen Terminal. This includes creating new shopping and foodservice areas, relocating and expanding the TSA screening areas, improving building access and passenger flow, creating a new check-in area, and optimizing space and efficiency in the terminal.
The Great Hall, the first project undertaken by Ferrovial Airports in the USA, offers new business opportunities in public-private partnerships (P3), a space in which the company has extensive experience through subsidiaries Cintra and Ferrovial Agroman. The number of P3 projects has expanded rapidly in the USA, and the trend is expected to continue in the coming years.
Ferrovial Airports is one of the world’s leading privately owned airport investors and operators. The company has invested in 33 airports since it entered this business in 1998. It is currently the main shareholder of London Heathrow Airport and owns 50% of Aberdeen, Glasgow and Southampton airports in the UK. More than 90 million passengers used the group’s airports in 2016.