CAH seeks US$1.63 billion in loans for second Beijing Airport
Capital Airport Holdings is seeking over US$1.63 billion in long-term loans to fund the construction of the second Beijing airport.
Capital Airport Holdings (CAH) is seeking over US$1.63 billion in long-term loans to fund the construction of the second Beijing airport. Several large national banks have responded to CAH’s request for proposal sent in March, according to a source.
Located in Daxing District bordering Hebei Province, Beijing’s second airport was approved by the National Development and Reform Commission in late November 2014.
The construction project requires a total investment of RMB79.98 billion, 50% to be financed by bank loans and other forms of financing. The airport will have four runways with capacity for handling 72 million passenger throughput and two million ton cargo throughput per year, according to the commission’s public documents.
A joint venture of CAH and China National Aviation fuel will raise an additional RMB1.43 billion in bank loans to construct the airport’s field depot.
Local media reports construction will begin on December 26 and will take five years to complete.
CAH is a trans-regional multifaceted large-scale state-owned enterprise under the Civil Aviation Administration of China (CAAC). It operates more than 40 airports in seven provinces, autonomous regions and municipal districts including Beijing, Tianjin, Chongqing, Jilin, Inner Mongolia and Heilongjiang.(Translation by David)