BergerWorld: 4th Quarter 2006

Jorge Chávez International Airport (LIM) is Peru's principal domestic and international hub. Located in Callao, 13 kilometers from the country's capital, Lima (population 8.2 million), LIM handles over 70,000 metric tons of cargo and serves more than five million passengers per year, with estimates indicating passenger volume will more than double by 2010 and reach 16 million by 2020. Recognizing the need to accommodate future growth in 2001, Lima Airport Partners (LAP) was awarded a 30-year concession to operate the airport and manage the ambitious $244 million expansion program. The Berger Group, in association with Lufthansa Consulting, was selected by the Overseas Private Investment Corporation (OPIC) and Kreditanstalt der Wiederaufbau (KfW) to perform an independent review of LAP's program, which will include a new 19-gate concourse, additional aircraft aprons and taxiways, an on-site hotel and Peru Plaza, a major retail shopping complex comprised of restaurants, stores, banks and postal services.

The Team initially carried out a due diligence review of LAP's operations, including passenger and cargo forecasts and current business plans. The Team then analyzed LAP's investment budget and potential environmental concerns. Presently, the Team is serving as independent engineer, representing OPIC and KfW for phase one of the expansion. During this phase, Peru Plaza, seven terminal gates and a new immigration and baggage hall have already been completed, while Costa del Sol, an on-site hotel, is currently under construction. The next phase, which will result in the construction of 12 additional gates, will be completed by the end of 2008. The construction of a new runway has also been proposed, and Berger is currently reviewing an updated master plan to identify additional expansion requirements for the facility to 2030.