The deadline for submitting bids to outsource Islamabad International Airport (IIA) has been extended by the Aviation Division to March 15, 2024.
Al Sadat Marketing has been informed by sources that the plan to outsource Islamabad International Airport has been postponed because of a lack of enthusiasm.
According to sources, four corporations reportedly expressed interest in managing the airport at first. Nonetheless, the strict requirements caused the recent lack of interest from foreign parties.
The previous administration approved the Islamabad International Airport outsourcing proposal, which invited bids until November 8, 2023.
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It is important to remember that in August, ECNEC authorized the IIA’s outsourcing through the Public-Private Partnership (PPP) mode based on a summary provided by the Ministry of Planning.
In addition to raising funds, the government intended to engage the business sector in modernizing the IIA’s current infrastructure and related facilities.
The Planning Commission reported to the ECNEC that the project’s present value under the suggested option-1 (PPP mode) is $434 million, while the project’s current value under option-2 (conventional mode) is $409 million. Option 1 produces an additional net value of $25.65 million based on the present value. A 12-percent discount rate has been used to evaluate the project cash flows’ current value under both scenarios.
The Planning Commission was also informed that the project would cost around $135 million, with $100 million to be paid upfront by the winning bidder to the Civil Aviation Authority. The concession period would last for a total of 15 years.
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