The Inter-American Development Bank approved a $45 million long-term loan to help finance the expansion of the Juan Santamaría International Airport in San José, Costa Rica, and support its new operator's plans to refinance debt.

The non-sovereign guaranteed loan will be made to Alterra Partners Costa Rica SA (APCR), the airport’s operating company, owned since July 2009 by Brazilian, Canadian and U.S. partners.

The partners include Brazil’s Andrade Gutierrez Concessões and ADC & HAS Finance Ltd, a holding company controlled by the Houston Airport System, the Toronto-based Airport Development Corporation, and the Ontario Municipal Employees Retirement System.

APCR will use the IDB loan to refinance pre-existing debt and complete works on a terminal extension to permanently house immigration, customs and security processing at Central America's second busiest airport, which serves approximately 3.5 million passengers annually.

The lending will also finance additional holding rooms, renovation of existing and new boarding bridges, remote stands for buses and an additional remote parking position, as well as the reconstruction of the apron and one of the taxiways.

These investments will improve passenger comfort and boost revenues from commercial services at the San José airport, which has seen the number of travelers grow an average 8 percent a year since 2002.

Source: Inter-American Development Bank

More on this topic

Costa Rica Airport Receives Funds for Expansion

October 2011

$100 million of loans have been granted, paving the way for larger passenger capacity at Juan Santamaria Airport.

A press release from the Inter-American Development Bank reads:

Juan Santamaria International Airport in San Jose, Costa Rica has successfully completed a three-year restructuring process and is preparing to more than double its passenger capacity after partnering with the Inter-American Development Bank (IDB) and the Overseas Private Investment Corporation (OPIC).

Costa Rica: Houston Airport to Operate Airport

May 2009

The US consortium has the backing of the Comptroller General of the Republic to operate and expand Juan Santamaría airport.

The current manager, Alterra Partners, has been without the funds to undertake the expansion for a year and it has agreed to cede its rights to Houston Airport System (HAS).

IFC Values Airport Financing in Costa Rica

February 2009

The International Financial Corporation (IFC) is considering assuming the financing of pending works in Juan Santamaría Airport.

Mario Bermúdez Vives writes in Elfinancierocr.com: "Officials are seeking alternatives to rescue the management contract of interest, after the Comptroller's office rejected a request to continue formalizing the contract schedule, without having secured the financing.

Costa Rica: HAS Group is the new operator of Juan Santamaria airport

October 2008

The Houston Airport System consortium will become the new airport administrator in December, replacing Alterra Partners.

Yesterday, the Office of the Comptroller General authorized the transfer of the management contract that was held by Alterra since 2001.
Before finalizing the transfer, Houston Airport System Development Company (HASDC) must pay the debts that Alterra had with banks creditors of the airport.