Albert Capital Finance Authority and Edmonton Airports have reached an agreement to finance a $1.1B capital program at Edmonton International (YEG).
The Alberta Capital Finance Authority Act created the ACFA in 1956 to provide flexible funding for capital projects to local authorities within the province.
“We are pleased to partner with ACFA as we embark on a critical expansion of Edmonton International Airport,” says Reg Milley, Edmonton Airports’ president and chief executive officer. “Being an ACFA shareholder allows Edmonton Airports to borrow money at favorable rates to finance airport capital projects that are so vital to our region’s transportation system and competitiveness.”
YEG has had almost 50% sustained passenger increases over the past three years; the five-year expansion includes $70M in work that has already been finished or is under way.
A new south concourse will add 13 passenger gates to the existing 17; construction is slated to begin late this year and finish in 2012. Also planned are more aircraft parking space, systems upgrades and other enhancements.