Turks and Caicos Firms up PPP Timeline for £364 Million Airport Redevelopment

Kevin Rozario

London

June 30, 2023

mod Turks and Caicos aerial beach shot

Turks and Caicos is a high-end tourism destination.

© Turks and Caicos Islands Tourist Board

The government of the Caribbean islands of Turks and Caicos has, for some time, resolved to redevelop Howard Hamilton International Airport (PLS) under a public-private partnership (PPP) scheme. In June, the islands’ airport authority revealed a timeline that detailed the key stages of the project and the scale of the infrastructure that will be developed.

PLS—the biggest gateway in the country and formerly called Providenciales International Airport—does not have enough capacity at present. In the words of the Turks and Caicos Islands Airports Authority (TCIAA), the airport “has proved to be inadequate in spacing with no scope for increased demands.” This is particularly true since international flights to the Turks and Caicos Islands began to return in strength from the end of November 2021.

Just over a year ago, the TCIAA—first set up by the government in 2006—contracted ALG Global as the consultant and infrastructure advisor for the redevelopment project. Among its main tasks were to:

• Set out a business case for the construction of a new two-floor terminal building (minimum of 270,000 square feet including boarding bridges, enhanced commercial areas, and increased VIP lounges)

• Ensure the ability to handle about 2.5 million passengers annually

• Develop a proposal for airside expansion involving extra domestic and international stands and the addition of a parallel taxiway to improve the number of air traffic movements (ATMs) per hour to 26.

The investment cost is estimated at $364 million and the PPP business case was approved by Britain’s Foreign, Commonwealth, & Development Office on May 23 this year. The British body has jurisdiction on such matters because Turks and Caicos is a British self-governing overseas territory, the third largest by population, and a dependency of the UK.

TCIAA envisages modernizing and improving the capacity at Providenciales Airport over 40 years. The start of the concession for the chosen PPP partner is set for January 1, 2024, for a period of 30 years. With the approval having been granted, the TCIAA has been able to go ahead and discuss the project publicly and has now outlined, in detail, the timeline and next steps as follows ...

INVESTOR INSIGHTS

Subscriber-only content. You must be signed in and have a subscription plan to view this information.

Not a member of airportIR?

Subscribers receive access to value-added content including the latest Deal Pipeline intel, in-depth feature articles and analysis, operator/investor profiles, industry insights, reports and much more.

What's Included

  • In-depth deal pipeline content
  • Feature articles and analysis
  • Detailed operator/investor profiles
  • Industry insights, reports and much more

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Proin faucibus arcu et sem dapibus, faucibus viverra ex semper. Sed maximus urna quis lectus porta gravida. Sed enim sem, ullamcorper at tempor et, tincidunt eget purus. Etiam vitae iaculis dolor. Etiam commodo tempus turpis. Integer ac nunc ac leo facilisis tempus. Pellentesque quis sagittis diam. Fusce congue pulvinar interdum. Curabitur porta libero enim, ullamcorper condimentum diam accumsan quis. In tempor egestas risus, id congue nibh cursus in. Cras sollicitudin fermentum orci et eleifend.

Nam eget imperdiet risus, at luctus nulla. Nullam porttitor, est quis viverra fringilla, ipsum velit tincidunt massa, vel egestas lacus velit eget mauris. Proin finibus condimentum tellus, in commodo felis dapibus a. Curabitur luctus et sapien a dapibus. Mauris faucibus dapibus justo vitae varius. Proin quis mauris eros. Curabitur tincidunt feugiat dignissim.

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Proin faucibus arcu et sem dapibus, faucibus viverra ex semper. Sed maximus urna quis lectus porta gravida. Sed enim sem, ullamcorper at tempor et, tincidunt eget purus. Etiam vitae iaculis dolor. Etiam commodo tempus turpis. Integer ac nunc ac leo facilisis tempus.