Portugal asks Vinci's ANA to present proposal for new airport

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Finance

Posted By Global Banking and Finance Review

Posted on January 17, 2025

Portugal asks Vinci's ANA to present proposal for new airport

By Sergio Goncalves

LISBON (Reuters) - Portugal's government on Friday asked Portuguese airports operator ANA, owned by France's Vinci, to present a formal proposal to build and operate a new international airport in the Lisbon district at no cost to the state.

The government approved in May the construction of the new airport in the municipality of Alcochete, across the River Tagus from Lisbon, which is expected to cost up to 9 billion euros ($9.28 billion) and begin operations by 2034.

The tourism industry has grown increasingly frustrated in recent years as Lisbon's existing airport is operating at full capacity with record numbers of foreign visitors to Portugal.

The proposed new facility falls within the concession area of Lisbon's congested airport, one of 10 main terminals in the country operated by ANA since 2012, with the concessions running until 2062.

The infrastructure ministry said in a statement that the initial report on the new airport submitted by ANA in December did not foresee a direct contribution from the state budget, in full alignment with government plans.

"The government informed ANA that it wants the concessionaire to prepare the application for the airport and that cost reduction is a priority," it said, adding that ANA now has up to 36 months to formally present its plans.

In the initial report, ANA planned to open the airport with two four-kilometre-long (2.49-mile) runways with capacity for all types of aircraft, with the possibility of building two more runways later.

The government said it was open to discussing adjustments to the airport specifications, and wants to "review and discuss" the airport's financing model and risk-sharing with ANA.

($1 = 0.9703 euros)

(Reporting by Sergio Goncalves; editing by Andrei Khalip, Kirsten Donovan)

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