Upgrading of 3 Airports under Cross-Subsidy model

Pursuant to clause 4(b) of the regulation R-125/2022 (Cross-Subsidization of island/land/lagoon allocated for tourism), we invite interested parties to submit expressions of interest or proposals for financing the upgrading of airports as below.

The following 3 airports are to be upgraded under this Model:

Following key points must be considered in submitting Expressions of Interest or proposal.

1. All sections of the “Application Form” attached with this advertisement must be completed.
2. Proposed financing will be set off against the acquisition cost of the proposed cross subsidy property, and any proceeds from committed financing amount exceeding the acquisition cost shall be set off against the lease rent as per regulation.
3. EoI or proposal must clearly indicate the proposed airport for which the financing is proposed.
4. This process shall be a continuing process and will remain open until its closure is publicly notified.
5. Interested parties may submit the attached application form along with required documentation to the Ministry of National Planning, Housing and Infrastructure, via e-mail to [email protected].

Assessment and Progression of Applications will be as follows:

a)      Upon submission, Ministry of National Planning, Housing and Infrastructure will ensure all relevant sections of the Application Form are filled supporting documents included.

b)      Verification of Documents submitted.

c)      All submissions fulfilling the requirements of the Application Form, and Proof of finance, shall be considered for endorsement.

d)      All endorsed submissions shall procced with the Financing Agreement and the subsequent Tourism Agreements as regulation R-125/2022 (Cross-Subsidization of island/land/lagoon allocated for tourism).