Here are Europe’s five largest airport infrastructure construction projects that were initiated in Q3 2021, according to GlobalData’s construction projects database.
1. Keflavik Airport Expansion – $1,000m
The project involves the expansion of an airport by adding a new 85,000m2, East Pier in the South Peninsula, Iceland.
Construction work started in Q3 2021 and is expected to be completed in Q4 2024.
The airport aims to serve as a hub for travelers from Europe to North America; the airport operator is also looking to develop Keflavik as a cargo airport.
2. Innsbruck Airport Redevelopment – $167m
The project involves the redevelopment of the Innsbruck Airport in Tirol, Austria.
Construction work commenced in Q3 2021 and is expected to finish in Q4 2028.
The project’s aim is to better manage 1.1 million passengers at the airport.
3. Nova Pazova Aircraft Engine Repair Facility – $118m
The project involves the construction of an aircraft engine manufacturing facilities in Nova Pazova, Vojvodina, Serbia..
Construction work started in Q3 2021 and is forecast to complete in Q4 2022.
4. Jersey Airport Redevelopment – $55m
The project involves the construction of a new integrated terminal building with a gross floor area(GFA) of 16,000m2 in St Peter, Jersey, the UK.
Construction work commenced in Q3 2021 and is expected to be completed in Q4 2023.
Initially, the project was estimated to cost around $87 million, but after revised designs, in November 2017 PoJ decided to fund the development for considerably less than the original investment and from its own commercial returns and not through government financial support.
5. Cork Airport Infrastructure Development – $45m
The project involves the up-gradation of airport facilities in Munster, Ireland.
Construction work started in Q3 2021 and is expected to be completed in Q4 2022.
The main aim of the project is to provide a wide range of transport facilities for tourists in the region and making Cork Airport the second largest airport in the State and connecting the South of Ireland with the world. It will create 250 construction jobs.
Methodology:This analysis is drawn from GlobalData’s global construction projects database, which tracks new construction projects over $25m from announcement to completion.
Verdict’s parent company GlobalData plc provides business information to 4,000 of the world’s largest companies.