Chile has made its first big P3 award since Michelle Bachelet became president a year ago, naming a French-Italian consortium the winner of a 20-year re-concession for Santiago’s Arturo Merino Benitez International Airport. The concession calls for US$700 million in investment.

The winning Nuevo Pudahuel consortium, with Aéroports de Paris holding a 45% controlling stake, Vinci Airports 40%, and Italy’s Astaldi, SpA 15%, will assume operation on October 1 this year when the existing concession ends.