TAV to invest $56 mln in Tblisi airport

ISTANBUL - Anatolia News Agency

This photo shows a snapshot of Georgia’s Tbilisi International Airport, where TAV Holding is getting ready to invest in the re-construction of a runway.

TAV Holding has signed a $56 million deal with United Airport Georgia to revamp an unused runaway at the Tbilisi International Airport in the Georgian capital. TAV already has a 76 percent stake in TAV Urban Georgia, which runs the airport.

TAV, which made an announcement to the Istanbul Stock Exchange over the weekend, said the re-construction of the runway would begin this September, and is expected to be completed in two years.
 
Furthermore, TAV Urban Georgia, which is currently managing the airport until February 2027, will receive an extension until Nov. 8 2037 as part of the build-operate-transfer agreement with this new investment.
 
Tbilisi International Airport serviced 1.1 million passengers in 2011, offering flights to 28 destinations, 26 of which were local and two of which were domestic