LaGuardia Gateway Partners, in which Skanska is a partner, has been selected by the Port Authority of New York and New Jersey as the preferred bidder on the Terminal Replacement Project at LaGuardia Airport.
Filed under: NewsThe PPP-contract includes taking over operations of the existing Central Terminal Building and designing, building, financing, operating and maintaining a new replacement terminal for a lease term through 2050. The selection enables LaGuardia Gateway Partners to enter into negotiation with the client in order to finalize the lease agreement and begin the process of achieving commercial and financial close.
The project is expected to be financed using equity, debt, passenger facility charges, retail and airline revenues. The total value of the construction contract is estimated by the Port Authority of New York and New Jersey to about $3.6 billion.
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