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| Bouygues Construction Begins Work on the Cyprus Airports Bouygues Bâtiment International, a subsidiary of Bouygues Construction, began construction on two Cyprus airports on behalf of the Hermes Airports concession. Bouygues Bâtiment International was awarded the 491 million euro contract to design and build two airports at Paphos and Larnaka to replace the existing, outdated facilities. Civil engineering and structural work will be subcontracted to local Cyprus-based partners (Iacouvou and Charilaos Apostolides Public Ltd). The first concession agreement in this country, the 25-year contract was signed in early July 2005 by the Hermes Airports consortium, in which Bouygues Bâtiment International is the main shareholder. The contract took effect with the completion of project financing, which arranged financing for a total investment of about 640 million euros. As part of the consortium, Vancouver Airport Services, Egis Projects and the Nice-Côte d'Azur Chamber of Commerce and Industry will contribute their expertise in airport management. Cyprus Trading Corporation and Aer Rianta International will manage duty-free retailing. write your comments about the article :: © 2006 Construction News :: home page |