French infrastructure firm Vinci has agreed to fund a €1.15bn expansion of Lisbon’s main airport as well as the construction of a new hub in Montijo, Portugal.
As part of the deal, €650M will go towards the expansion of Lisbon’s Humberto Delgado airport while €500M has been set aside to fund the construction of the Montijo site.
The Montijo site has been under consideration for five years and is yet to receive the green light following environmental complaints.
An environmental study is currently being carried out, with Vinci confident of securing the go ahead this year.
The company said a concession agreement for the Montijo site “should be signed in 2019, once the environmental authorizations have been obtained”.
Portugal prime minister Antonio Costa added: “We will do everything possible, once the environmental impact study proves favourable, for the operation to start immediately.
“Every day of delay will add to the 50 years we have been waiting for a solution to the airport.”
The airport, scheduled to be built by 2022, is to be built on the bank of the Tagus River estuary, a spot frequented by flocks of migratory birds and other wildlife.
It has been a busy start to the year for the French infrastructure giant after it purchased just over half of London Gatwick Airport for £2.9bn at the end of December.
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