Lima Airport Partners (LAP), part of the Fraport Group since 2001, has signed a US$450 million financing agreement for its airside development program at Jorge Chávez International Airport in Lima, Peru. Four international banks – comprising KfW IPEX-Bank, the Bank of Nova Scotia, Sumitomo Mitsui Banking Corporation (SMBC), and Banco Bilbao Vizcaya Argentaria – are providing the loan. Fraport’s and LAP´s finance teams managed the transaction, while SMBC acted as financial advisor.
LAP’s airside development is strategically important, not only for Lima Airport but also for Peru and South America. Lima Airport (LIM) serves as a major and popular hub airport for the South American market. The airside development comprises a new 65-meter-high air traffic control (ATC) tower, a new second runway with a length of 3,480 meters, 10 kilometers of taxiways, a 250 hectare advanced mid-field apron area for increased aircraft parking capacity, new operational facilities for fire and rescue services, plus beacons and navigation aids, surveillance systems, and other systems. Construction of the ATC tower and airfield buildings already began in July and is scheduled to be completed late in 2021. In the coming weeks, construction will start on the new runway which is scheduled to go into operation by the end of 2022.