Airport Investor Deadline Extended, says TCIAA

Dana Malcolm

Staff Writer

#TurksandCaicos, September 24, 2023 – Bidders are showing interest in the Providenciales Airport Redevelopment Project as the deadline for pre-qualification has been extended at the request of potential investors, according to the Turks and Caicos Islands Airports Authority (TCIAA).

In a September 19th update, the TCIAA revealed that to allow adequate time for the submission of applications, the closing date has been extended from Wednesday, 27th of September 2023 to Wednesday, the 18th of October 2023.

The Government is hoping to find an investor willing to front the $360 million cost to redevelop the airport within five years and subsequently manage it and its revenue.

The investment to expand the terminal has also been estimated at $400 million.

No comment has yet been shared by TCIG on the level of interest in the project since it opened in August, but the Government had begun to receive unsolicited drafts from multiple investors before they had even decided on the structure of the redevelopment which is to be a Public Private Partnership.

The redevelopment is a necessary step in the Turks and Caicos’ tourism evolution according to consultants as the country prepares for a sustained increase in travelers.

The Government has set an ambitious timeline for the project with contracts to be signed by early 2024.