Tocumen's Expansion Plans

Panama City airport authorities have started negotiating to buy the land needed to build a third runway and a passenger terminal.

Tuesday, October 3, 2017

The formal process for acquiring properties began with discussions with the owners of the six plots of interest to Tocumen S.A., all of different sizes and which together total some 800 hectares. Carlos Duboy, manager of Tocumen, explained that they presented a possible payment scheme that includes a portion in cash and another in exchange of state lands in other parts of the country. 

Prensa.com reports that "...The airport's plans are to finalise the negotiation before the end of the year and complete the purchase once Tocumen finishes paying off the debt it has with the University of Panama, which in 2012 sold to the airport 337 hectares for $109 million."

"... According to Tocumen's master plan, by the year 2022 they will need to construct a third airstrip, because of aircraft congestion on the ground that is happening during peak hours. 
Also, the airport will need a third passenger terminal, taking into account that between 2025 and 2030 the building of 116 thousand square meters that is currently be built will be operating at its maximum capacity."

More on this topic

Tocumen Plans a Third Runway

November 2016

In order to remain competitive Panama City airport needs to further expand its operating capacity, and is already working on the acquisition of surrounding land.

The funds to finance the project to construct a third runway will come from the dividends expected to be generated by the terminal with the granting of duty free premises whose tender is scheduled for 2017.

Outlook Improved for Tocumen Debt

May 2016

Fitch Ratings has upgraded from negative to stable the outlook on the issuance of $650 million made in 2013, after another $575 million was successfully issued a few days ago.

In its statement, the rating agency noted that sanctions imposed by the Office for Assets Control of the United States Department of the Treasury on companies that are part of Grupo Waked Internacional (Wisa), for allegedly operating a money laundering scheme, will not have a material impact on the Tocumen's credit rating.

Tocumen to Buy Surrounding Land

May 2016

The international airport in Panama needs space to build a third runway to ensure the continuity of air operations.

An article on Capital.com.pa reports that "...The neighborhoods surrounding the International Airport of Tocumen are limiting growth of the airport, and preparations are being made to acquire these lands in order to build a third runway in the next five years, to prevent the arrival and departure of aircraft being interrupted by an accident. "

Tocumen Needs Another $300 million

April 2015

The administration of the Panama City airport is looking overseas for investors to fund the $300 million needed to complete the construction of the southern terminal.

During the last administration of Tocumen a tender was scheduled for commercial spaces. to fund part of the works in the terminal.

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