Korea Airports Corporation Aims to Operate 'Guayaquil Airport' in Manta, Ecuador

Engineering Firm 'Yushin' Conducts Feasibility Study
Bid Announcement for 950 Billion KRW New Airport Construction Next Year
"Profitability Review Underway for Operating Rights Project Bid"

Korea Airports Corporation is aiming to secure the operation rights for the new airport in Guayaquil, Ecuador’s largest city, following its involvement with Manta Airport. The company is planning to use this as a foothold to enter the Latin American hub airport market, alongside the Chinchero Airport construction project in neighboring Peru.

According to the aviation industry on the 29th, the domestic engineering consulting firm 'Yushin' conducted a preliminary feasibility study for the construction and operation of the new Guayaquil airport in mid-April on site in Guayaquil, Ecuador. This was to assess profitability related to design, supervision, and operation ahead of the full-scale project bidding scheduled for next year.

Korea Airports Corporation plans to thoroughly review Yushin’s feasibility study results and make a final decision on whether to participate in the bidding for the Guayaquil new airport project. If positive profitability results are obtained, Korea Airports Corporation will continue to operate major hub airports in the Latin American region, following Manta and Chinchero airports.

Guayaquil Airport is located approximately 270 km south in a straight line from Quito, the capital of Ecuador, and is closely integrated with the city, causing increased inconvenience such as noise issues for residents. The Ecuadorian government, considering urban development and the anticipated difficulty in accommodating future passenger demand at Guayaquil Airport, is planning to build a new airport.

The Ecuadorian government plans to announce the bidding for the ‘Guayaquil New Airport Construction and Operation Rights Sale Project’ in October 2022 through the Guayaquil City Aviation Authority. The construction is scheduled to proceed from 2024 to 2027 under a private investment (BOT) model. The total project scale is about 800 million USD (approximately 950 billion KRW), envisioning an airport capable of serving over 10 million passengers annually. The Ecuadorian government is currently discussing detailed implementation directions, including the division of roles with the winning construction and operation rights companies.

Korea Airports Corporation is reportedly prioritizing participation through equity investment in the airport operation rights rather than the initial construction project, given the large scale of the new airport project.

Meanwhile, the corporation is in the final stages of negotiations for the operation rights contract of Manta Airport, Ecuador’s largest port city. The total project scale is 540 billion KRW, and if the contract is finalized, Korea Airports Corporation will secure a 30-year long-term operation right for Manta Airport. In neighboring Peru’s Chinchero, a consortium including domestic companies Dohwa, Geonwon, and HanmiGlobal has won the PMO (Project Management Office) contract and is constructing a Korean-style airport using Korean technology.

Yoon Sang-gyu, Head of the New Growth Business Office at Korea Airports Corporation’s Aviation Business Headquarters, said, “Guayaquil Airport holds a key position as a Latin American hub in Ecuador,” adding, “We plan to discuss concrete plans for bidding on the operation rights project based on the feasibility study.”

This content was produced with the assistance of AI translation services.