Published On: Fri, Jun 17th, 2016

CAP signs loan agreement with MCB for a total of ANG 82.000.000 for the Airport Expansion Project

CAP and MCB celebrated this joyous occasion among others by offering a donation of ANG 10.000 to Maduro School

cap_mcbWILLEMSTAD – Curaçao Airport Partners and MCB Bank signed a loan agreement for the amount of ANG 82 million guilders, which CAP will use to finance the Curaçao International Airport Expansion Project. During the MCB Centennial celebration at the MCB HATO Branch situated at Curaçao International Airport, CAP CEO Ralph Blanchard and MCB Bank Managing Director Michael de Sola signed the agreement, and with that, marked an important milestone for the construction work at the airport. In addition, to demonstrate their commitment towards the well-being of the community, Curaçao Airport Partners and MCB Bank offered a joined donation of ANG 10.000 to primary school Maduro School.

It’s the first time that CAP NV finances one of its projects in its totality by means of a local loan. Generally the Board of private company Curaçao Airport Partners NV, that’s partly an international entity with Board representatives from CCR Brazil, Zurich Airport and Janssen de Jong, combine local loans with loans of renowned international banks, which are well-known to them. The Management of CAP was able to convince the CAP Board of directors that complete financing by a local bank was possible and was more favorable. Meaning a unique occurrence took place, which was celebrated during the MCB Centennial event at the MCB Branch at Curaçao International Airport.

After the official moment during which the agreement was signed, CAP CEO Ralph Blanchard and Branch Manager of MCB HATO Branch Miosotis Sleur offered the Head of School and the school children of primary school Maduro School in Santa Maria (near the airport) a check of ANG10.000 for material and innovation at their school. “On behalf of the Management of Maduro & Curiel’s Bank and Curaçao Airport Partners, we would like to offer this donation which is specifically to invest in material to support the C.M.L. Maduro School develop in the technical aspect, because our schoolchildren are tomorrow’s future”, Miosotis Sleur, Branch Manager at the HATO Branch explained during her speech.

Airport Expansion Project
In 2003 Curaçao Airport Partners N.V. (CAP) entered into the Development, Operation and Maintenance Agreement (DOMA) to operate and manage Curaçao International Airport. One of the important requirements of the DOMA is for CAP to plan and design the expansion of the airport terminal once the total number of passengers reaches or is about to reach1.8 million per year. In 2015 the number of passengers handled by CAP is 1.7 million and CAP expects that by the end of 2018, when the expansion is completed, the number of passengers will have reached 1.8 million.

With this in mind, in 2014 CAP started with the planning and design of the expansion of the airport terminal, two years ahead of schedule of the contractual requirement. The planned expansion by CAP will increase the capacity of the airport to at least 2.5 million passengers, and will efficiently accommodate the anticipated demand by the airlines for new air service capacity. The expansion plans will also incorporate commercial services and facilities in order to enhance the airport experience of the passenger visiting Curaçao International Airport.

Maduro & Curiel’s Bank N.V., that celebrated 100 years of offering service in Curaçao and Internationally, is convinced of the importance of the airport expansion for Curaçao, given its economic impact, and as such expressed its confidence in CAP and Curaçao, by providing the financing of the Airport Expansion Project.

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