BAA Consortium Wins Bid for Oman Airports.Business Editors LONDON--(BUSINESS WIRE)--Sept. 10, 2001 BAA plc, the leading international airport company announced today its consortium, with local partner the Suhail Bahwan Group and ABB n. 1. Among weavers, yarn for the warp. Hence, Noun 1. ABB - an urban hit squad and guerrilla group of the Communist Party in the Philippines; formed in the 1980s Equity Ventures, has won preferred bidder status for the privatization privatization: see nationalization. privatization Transfer of government services or assets to the private sector. State-owned assets may be sold to private owners, or statutory restrictions on competition between privately and publicly owned of Seeb and Salalah Airports in Oman, after a competitive process involving six other consortia. Seeb International serves Muscat Muscat, Maskat, or Masqat (all: mŭs`kăt, mŭs`kət), city (1993 pop. 533,774), capital of Oman, SE Arabia, on the Gulf of Oman. It is flanked by rugged mountains. , the capital of Oman Noun 1. capital of Oman - a port on the Gulf of Oman and capital of the sultanate of Oman Masqat, Muscat Muscat and Oman, Oman, Sultanate of Oman - a strategically located monarchy on the southern and eastern coasts of the Arabian Peninsula; the economy is while Salalah is in the south of Oman and has significant tourism and freight growth potential. Final contractual negotiations will be agreed whereupon the consortium will take a 75% stake in NewCo which in turn will have a 25 year concession to develop and manage the airports. BAA will hold a 25% stake in NewCo, the other shareholdings will be Suhail Bahwan Group 35%, ABB with 15%, with the Government retaining a 25% share. NewCo will invest RO 73m ((pound)130m) in developing the facilities at the airports. The main element of this is the construction of a new terminal at Seeb, due for completion in mid 2006. BAA's equity investment will be around (pound)9 million. Three senior managers from BAA and one from Bahwan will be seconded to executive positions in NewCo. The contract begins on January 1, 2002 with the transition process starting from October this year. Commenting on the appointment, Terry Morgan, BAA's International Director said "This is an exciting opportunity for BAA and our first entry into the Gulf region. Our plans for the new terminal will help Seeb International Airport Seeb International Airport (IATA: MCT, ICAO: OOMS) is the main airport in Muscat, Oman. It is a hub of Oman Air, the national carrier of Oman. The distance from Old Muscat is 30 km and it is 15km from the main residential localities. secure a leading position in aviation in the Middle East. We will also develop the commercial and retailing facilities at the airports, target route development and provide general airport management expertise." Seeb International Airport handles around 2.7 million passengers per annum Per annum Yearly. with forecast market growth of between 4% and 6% per annum. Salalah (150,000 passengers per annum) is positioned in the southern part of Oman (north west corner of the Indian Ocean) at an important trading crossroads and already has one of the largest container transshipment Transshipment The passing goods from one ocean vessel to another. ports in the world. Strong growth of both trade and tourism is anticipated and the development of a major Free Trade Zone is planned. For information on BAA see website www.baa.com BAA's international contracts include, in the US: Pittsburgh, Indianapolis, Boston Logan; in Australia: Melbourne, Launceston, Perth, Alice Springs, Tennant Creek and Darwin; in Continental Europe: Naples; in the Middle East: Seeb International and Salalah in Oman; in the Indian Ocean: Mauritius. BAA ordinary shares trade on the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. ; prices may be accessed on Bloomberg under the symbol BAA LN, on the Reuter Equities 2000 Service under BAA.L and on Quotron under BAANU.EU. BAA ADRs, each equal to one ordinary share, appear on the pink sheets under BAAPY. |
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