TAV has signed a $65m investment deal with United Airport Georgia to refurbish the unused runway at Tbilisi International Airport in Georgia.
TAV, which already owns a 76% stake in Tbilisi Airport operator TAV Urban Georgia, said that re-construction of the runway is expected to commence in September 2012, with completion anticipated in two years.
Following the investment commitment, operational rights of the airport has been extended to 8 November 2037, from an earlier build-operate-transfer agreement that lasted until February 2027.
TAV has been operating Tbilisi International Airport since October 2005.
In 2011, Tbilisi International Airport served 1.1 million passengers, offering flights to 28 destinations, including 26 local and two domestic destinations.
Spread over an area of 25,000m², the airport has a passenger handling capacity of 2.8 million and features three boarding bridges, 25 check-in counters, 32 passport control areas and three baggage conveyors.
The baggage handling system installed at Tbilisi International Airport has a capacity to handle 2,400 bags every hour.
The airport has 4 gates, an aircraft parking apron with 11 parking spaces, four indoor gates, three CIP lounges, duty free, commercial units, food and beverage areas, a service building construction area of 650m² and 156.200 m² PAT construction area.
The company has also operated an airport in Batumi since May 2007, under a 20-year agreement.
Image: The runway re-construction work at Tbilisi International Airport is expected to be completed in two years. Photo: courtesy of TAV Airports Holding.