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Sacyr to build new airport in southeast Spain

Fri Mar 30, 2007 9:34am EDT

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MADRID, March 30 (Reuters) - A consortium led by Sacyr Vallehermoso (SVO.MC) has won a contract to build and run an international airport in Spain's southeast region of Murcia, the construction group said on Friday.

Sacyr owns 60 percent of the consortium chosen to build the airport in Corvera, which should open in 2010. The rest of the group is owned by local savings banks and other firms.

The consortium will take two years to build the airport near seaside resorts south of Alicante and manage it for 40 years.

Sacyr said the consortium would invest 555 million euros

($739 million) over the lifetime of the concession and had budgeted 185.2 million to build the airport.

Sacyr joins other Spanish builders that have branched out into airport management, a steady cash-flow business that helps smooth the ups and downs of the construction cycle.

Ferrovial FER.MC bought British airport operator BAA last year and FCC (FCC.MC) has an airport handling unit Flightcare. The Murcia consortium expects 5 million people to use the new airport when it opens, rising to 9 million after an extension in 2015 and more than 14 million in 2030.

((Reporting by Carlos Ruano; editing by Greg Mahlich; Reuters Messaging: carlos.ruano.reuters.com@reuters.net; e-mail: carlos.ruano@reuters.com; +34 91 585 2152))

($1=.7510 Euro) Keywords: SACYR AIRPORT/

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