For the construction of the new airport, Quiport S.A. created a contractual structure based on a financial plan that, in 2005 and 2006, won the international prize "Project Financing," awarded by International Finance Legal Review, for the quality of its project plan.
Some of the plans most important characteristics are:
• There is no financial guarantee made by the Ecuadorian Central Government or the City of Quito.
• The timeframe and budget are guaranteed by the government of Canada.
The total cost of the project, to be delivered in its entirety in October 2010, will cost more than US$590 million. The financial plan envisions three sources of financing:
US$74 million from Quiport S.A. investors' own capital.
US$376 million in credit granted to Quiport by multilateral development banks.
US$140 million from the efficient operation of the Mariscal Sucre International Airport.
The credit extended to Quiport S.A. comes from important financial institutions specializing in development projects: |