Nikola Tesla Beograd

Location:

Serbia

Project number:

49082

Business sector:

Transport

Notice type:

Private

Environmental category:

B

Approval date:

31 Oct 2018

Status:

Repaying

PSD disclosed:

11 Sep 2018

Translated version of this PSD: Serbian

Project Description

A concession for the financing, development, maintenance, operation and management of the AD Aerodrom Nikola Tesla Beograd ("ANT" or "Belgrade Airport").

Project Objectives

ANT is the main international airport in the Republic of Serbia and an asset of strategic importance for the country. The project will contribute to the Government of the Republic of Serbia's overall strategy to promote increased participation of the private sector in the Serbian economy. It is expected to deliver the efficient upgrading of the airport, including terminal refurbishment and expansion, refurbishment of the existing runway, construction of a temporary runway and expansion of the taxiway system.

Transition Impact

The expected transition impact of the project is derived from having a first large scale concession in the country which will be a landmark private sector transaction (Resilient Quality) and capacity expansion, and improvement of services and facilities at the airport contributing to future air transport growth in Serbia (Integrated Quality).

Client Information

Vinci Airports Serbia d.o.o., as the concessionaire will be the Borrower for the transaction. Vinci Airports Serbia d.o.o. is a special purposed vehicle and a fully owned subsidiary of Vinci Airports.

Vinci Airports, part of the Vinci S.A. group, is the world's fourth-largest airport operator.

EBRD Finance Summary

EUR 100,000,000.00

Up to EUR 100 million A Loan.

Project finance loan, provided under an A Loan/ B Loan structure (B Loan provided by commercial banks), and co-financed with other International Financial Institutions (IFC, Proparco, DEG.)

Total Project Cost

EUR 980 million (for first four years investment, including upfront concession fee payment.)

Environmental and Social Summary

Categorised B (2014 ESP).  The Project is associated with a number of site-specific Environmental, Health, Safety and Social sensitivities that have been assessed during an independent E&S Due Diligence (ESDD) process. A detailed Environmental and Social Action Plan (ESAP) addressing these issues has been developed in conjunction with other potential Lenders and will be agreed with the Client prior to the Board meeting.

ESDD has been undertaken by a Grantor-approved international consultant and comprised of the review of the E&S impacts of the Project, EHS audit of current airport operations, review of the E&S corporate management, land acquisition plans as well as legacy issues, such as historical contamination and noise.

One of the major historical issues associated with the Project is noise, due to its proximity to the residential settlement. As one of the Priority measures that Concessionaire will be required to start immediate implementation of the Balanced Approach consistent with EU/ICAO requirements aimed at reduction on the noise impacts, in parallel with extensive Stakeholder Engagement Plan.

The expansion Project will be associated with limited Land Acquisition that will commence in 5-years's time, for which the Land Acquisition Framework, which will constitute the basis of the Land Acquisition Action Plan, has been developed and agreed with the Concessionaire.

The individual components of the Project will be subject to the national EIA requirements, and will be developed in due course accommodating the Lender's EIA requirements as well.

Other E&S aspects of the Project and current operations include personnel and community health and safety, emergency preparedness, historic land and ground water contamination, air emissions and waste management, supply chain and contractors E&S management, labour requirements and resource efficiency. A number of corrective actions to address these issues were formulated into the ESAP that has been agreed in principle with the Concessionaire.

Whereas the Project is generally compliant with the national regulatory requirements, additional efforts and collaboration with the Regulator and other authorities will be required to ensure that further Project activities are fully compliant with both national and EU requirements.

The Corporate E&S Management system and capacity has also been assessed and it has been confirmed that the Client has institutional capacity to deliver the Project in line with EBRD's Performance  Requirements.

The Non-Technical Summary of the Project has been prepared.

Technical Cooperation

None.

Company Contact Information

Direction de la communication
communication@vinci-airports.com
0033147164640
http://www.vinci-airports.com
VINCI Airports Direction de la communication 12/14, rue Louis Blériot - CS 30071 92506 Rueil-
Malmaison Cedex # France
Business opportunities

Business opportunities

For business opportunities or procurement, contact the client company.

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