Happy landings.(Out Of The Box)(Ecuador's new international airport)(Brief Article)

Ecuador's new international airport is under way with a scheduled completion date of 2008. Canadian construction company Aecon, part of Ecuador's Quiport consortium, will begin work in late 2004 on the US$550 million airport plan, backed by the World Bank, Inter-American Development Bank and other institutions. As part of the new airport deal, Aecon took over management of Mariscal Sucre International Airport in Quito, which sits in the center of Ecuador's capital and cannot handle larger aircraft. The new airport will be built 25 kilometers outside the city. The company will spend $12 million to renovate Sucre airfield, which will close when the new airport opens, says Mitch Patten, vice president of corporate affairs for Aecon. Aecon holds nearly 67% interest in Quiport with Airport Development Corporation (ADC) of Toronto, which controls the remainder. Aecon expects to sell about 47% interest in the airport to new investors and retain a 20% stake. ADC and Houston Airport System Development Corporation will operate the airport.

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