The deal was agreed during the official visit of Honduran president, Porfirio Lobo Sosa, to the Asian island.
The head of the Ministry of Public Works, Transportation and Housing of Honduras, Miguel Pastor, a member of the official delegation, said, "We completed the signing of a memorandum of understanding with strong support from Singapore in the construction planning phase of the new terminal in the sector of Palmerola Comayagua," reports Laprensa.hn.
Interairports company representatives have announced the investment after receiving approval for the project from the Porfirio Lobo government.
The company holding the concession to operate Honduran airports expects the works at Palmerola to be completed by the end of 2013, for which they will need to begin as soon as possible after finalizing the necessary paperwork with the government.
In the event of not reaching an agreement with the current concessionaire, the government of Honduras is planning alternatives.
The Commission for the Promotion of Public-Private Partnerships (Coalianza) has a period of 10 days in which to reach an agreement with InterAirports SA (IASA) on the renegotiation of the technical and financial model for the construction of Palmerola, which they have been unable to finalize for the last five months.
The $15 million first stage will be developed by the company that holds concessions for Honduran airports, backed by Chinese and Chilean investors.
Honduran president, Porfirio Lobo, announced that the first stage of the Palmerola airport development will be inaugurated in 2013 with a four-lane fast access road because, in his words, "an airport without fast highway access doesn't work".
The Honduran government is awaiting the results of a feasibility study before beginning the project.
The president of Honduras, Porfirio Lobo, reiterated the government's intention to remodel the Palmerola commercial airport, also known as Soto Cano in order to replace the International Airport, Toncontin.
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