Peru, Fraport agree to major Lima Airport expansion

Lima Airport Partners (LAP)—a Fraport majority-owned company—and the govt of Peru will move ahead with a major expansion program of Lima Jorge Chavez International (LIM) after signing an amendment to the 2001 Lima Airport Concession. Construction of the US$1.5b project is scheduled to begin in 2018. Development plans call for a second runway—to be built first—as well as a new passenger terminal and other infrastructures to meet increasing traffic demands and upgrade passenger experience. Peru’s capital city airport handled 18.8m passengers in 2016 and recorded double-digit growth of 10.1% year-over-year. During the first half of 2017, LIM served 9.7m passengers, up 8.4% YOY. LAP took over operations in 2001. <br/>