HOCHTIEF AirPort Signs Concession Agreement for Tirana Airport

Essen
15.10.2004

The Albanian government and the Tirana Airport Partners consortium, under management of HOCHTIEF AirPort, have successfully concluded negotiations on the privatization of Mother Teresa International Airport. The agreement, signed today in the presence of the Albanian Prime Minister Fatos Nano in Tirana, seals the airport takeover in the context of a BOOT (Build Own Operate Transfer) concession with a duration of 20 years. Once ratified by the Albanian parliament, the airport is set to go over to private management as early as this coming winter.

Tirana International is the fifth airport holding for HOCHTIEF AirPort, after Athens, Düsseldorf, Hamburg and Sydney. In contrast to the previous pattern, however, on this project the company will primarily be involved by way of its management expertise. This is also reflected in the partnership with two financial investors: in addition to HOCHTIEF AirPort with 47 percent, the consortium members also include the Albanian American Enterprise Fund (21.3 percent) and the DEG Deutsche Investitions- und Entwicklungsgesellschaft (31.7 percent). As sole industrial partner, HOCHTIEF AirPort signs up to responsibility for the entire project management.

After taking over the airport, the private consortium will receive all the airport’s income and, in return, shall remit a concession fee to the state. The concession also brings with it countless expansion and modernization measures for the coming years. Construction work for a new terminal is to commence right from the first year of operation.

Tirana Airport is Albania’s only international airport and is currently used by more than 600,000 passengers annually. HOCHTIEF AirPort hopes this airport privatization will generate impulses for further involvement in the region: “This project can serve as a model example in many respects. We are convinced that this concession model will show the way ahead for the Southeast European region,” states Dr. Reinhard Kalenda, CEO of HOCHTIEF AirPort.

With its entry into the Tirana Airport project, HOCHTIEF AirPort - a 100 percent subsidiary of HOCHTIEF, the international provider of construction services - has been able to further extend its leading position in the private airport management market. The airports in which the company has a participating interest currently check-in more than 62 million passengers per year.

For further information please visit: www.hochtief-airport.com.

HOCHTIEF AirPort Signs Concession Agreement for Tirana Airport

Essen
15.10.2004

The Albanian government and the Tirana Airport Partners consortium, under management of HOCHTIEF AirPort, have successfully concluded negotiations on the privatization of Mother Teresa International Airport. The agreement, signed today in the presence of the Albanian Prime Minister Fatos Nano in Tirana, seals the airport takeover in the context of a BOOT (Build Own Operate Transfer) concession with a duration of 20 years. Once ratified by the Albanian parliament, the airport is set to go over to private management as early as this coming winter.

Tirana International is the fifth airport holding for HOCHTIEF AirPort, after Athens, Düsseldorf, Hamburg and Sydney. In contrast to the previous pattern, however, on this project the company will primarily be involved by way of its management expertise. This is also reflected in the partnership with two financial investors: in addition to HOCHTIEF AirPort with 47 percent, the consortium members also include the Albanian American Enterprise Fund (21.3 percent) and the DEG Deutsche Investitions- und Entwicklungsgesellschaft (31.7 percent). As sole industrial partner, HOCHTIEF AirPort signs up to responsibility for the entire project management.

After taking over the airport, the private consortium will receive all the airport’s income and, in return, shall remit a concession fee to the state. The concession also brings with it countless expansion and modernization measures for the coming years. Construction work for a new terminal is to commence right from the first year of operation.

Tirana Airport is Albania’s only international airport and is currently used by more than 600,000 passengers annually. HOCHTIEF AirPort hopes this airport privatization will generate impulses for further involvement in the region: “This project can serve as a model example in many respects. We are convinced that this concession model will show the way ahead for the Southeast European region,” states Dr. Reinhard Kalenda, CEO of HOCHTIEF AirPort.

With its entry into the Tirana Airport project, HOCHTIEF AirPort - a 100 percent subsidiary of HOCHTIEF, the international provider of construction services - has been able to further extend its leading position in the private airport management market. The airports in which the company has a participating interest currently check-in more than 62 million passengers per year.

For further information please visit: www.hochtief-airport.com.