Swedish Skanska preferred bidder for $3.6 bln LaGuardia project

STOCKHOLM - Reuters

Swedish builder Skanska said May 29 that its LaGuardia Gateway Partners consortium had been selected as preferred bidder in a $3.6 billion project to build a new terminal at New York’s LaGuardia Airport.

The private sector will contribute more than $2 billion and the Port Authority of New York and New Jersey more than $1 billion as part of a public-private partnership (PPP), the Port Authority said.

The contract includes taking over operations of LaGuardia’s existing Central Terminal Building and designing, building, financing, operating and maintaining a new replacement terminal under a lease which runs until 2050.

Skanska said its share of the equity investment would be up to 40 percent, while its share of the construction contract is 70 percent.

Skanska said no order bookings or investments would be accounted for until financial close, which is expected in 2016.

LaGuardia Gateway Partners comprises Skanska, Vantage Airport Group, Meridiam, Walsh Construction, HOK and Parsons Brinckerhoff.

Turkish airport builder and operator TAV said it was part of a bid which had not been selected.

TAV said last year its bid involved a consortium which included TAV shareholder Aeroports de Paris, Goldman Sachs and Tutor Perini Corp.