France's Vinci SA (DG.FR) said Saturday that its unit, Vinci Airports, has won a 25-year concession for Belgrade airport that the Serbian government values at 1.47 billion euros ($1.77 billion).
Vinci Airports was selected by Serbia to manage the operation, extension and upgrade of the existing airport terminal and runways, the company said. The contract is expected to be signed in the first quarter and should be finalized by the end the year, Vinci said.
Total traffic in the airport amounted to around 5.3 million passengers in 2017, it added.
"Belgrade Nik la Tesla Airport will serve as the company's 'hub' in Southeast Europe, a geographical area in which Vinci Airports has not operated until now," said Vinci Concessions Chief Executive Officer Nicolas Notebaert.
Serbian President Aleksandar Vucic said that the total profit from the concession will be EUR1.47 billion and that Vinci paid EUR501 million for it.
Vinci hasn't disclosed the financial details of the deal.
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(END) Dow Jones Newswires
January 08, 2018 01:43 ET (06:43 GMT)