Fraport spending for first 4 years up by 70 mln

Fraport spending for first 4 years up by 70 mln

In the first four years of its 40-year contract with the Greek state, Fraport Greece is planning to invest a sum of 400 million euros in the 14 regional airports it will take control of next month, according to the investment plan it released on Wednesday. The amount announced is 70 million euros higher than what the contract required.

Almost a quarter of the investment (95 million euros) will go toward upgrading Thessaloniki’s Makedonia airport, the second biggest in Greece. The plan also provides for the construction of five new terminal buildings – at Thessaloniki, Corfu, Cephalonia (Argostoli), Kos and Lesvos (Mytilene).

The total area of the 14 terminal buildings will grow by 100,000 square meters to 300,000 sq.m., the number of check-in points will expand from 213 to 297, security control points will increase from 44 to 84, gates from 103 to 147 and aircraft parking slots from 115 to 150. Every terminal will also receive an internal and external facelift, as well as the upgrading of all runways.

Fraport Greece officials note that besides the 400 million euros the consortium will implement additional investments in the medium term, concerning the maintenance and possibly increased capacity of each airport based on traffic volume.