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Jordan consortium says no plans to exit airport project
January 29, 2013 / 2:07 PM / 5 years ago

Jordan consortium says no plans to exit airport project

DUBAI, Jan 29 (Reuters) - A consortium of investors in charge of expansion work at Jordan’s main airport is not looking to exit its investment in the project, the company running the consortium said on Tuesday.

Sources told Reuters on Monday that Airport International Group (AIG), which is investing $850 million to expand the Queen Alia International Airport (QAIA), was looking to sell out and had approached banks for advisory roles.

“AIG has no plans of disposing of any part of its investment in QAIA, which is considered the most important Public Private Partnership (PPP) in the history of Jordan,” AIG said in an emailed statement citing its Chief Executive Officer Kjeld Binger.

The group had declined to comment on Monday.

The AIG consortium is led by Abu Dhabi-owned Invest AD, which has a 38 percent stake, and Kuwait’s Noor Financial Investment Co, with a 24 percent ownership.

The consortium was awarded a 25-year build-operate-transfer concession by the Jordanian government in 2007. The new terminal is expected to open in February, increasing capacity nearly three times to 9 million passengers a year. (Reporting by Dinesh Nair; Editing by Mark Potter)

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