The Government of Costa Rica granted a 20-year concession agreement to Coriport to design, finance, construct, rehabilitate, expand, maintain and operate a new passenger terminal as a PPP transaction at the Daniel Oduber Quirós International Airport in Liberia City. Coriport is a consortium led by ADC & HAS Aviation S.A and MMM Aviation Group S.A. The Project had a total investment of USD 40.5 million.

Phase I: Nathan was retained by BICSA (through Coriport) to conduct a due diligence analysis of the proposed investment plan for the implementation of the new passenger terminal as a PPP transaction. Nathan expressed an opinion on the Concession Contract, traffic forecast, commercial revenues, and technical feasibility of the proposed new terminal based on the analysis of the relevant aviation and tourism markets, the relevant regulatory and economic environment, the proposed construction, commercial, environmental and insurance plans, and the main assumptions of the Financial Model. Nathan also conducted a sensitivity analysis to support the banks during the credit analysis.

Phase II: Nathan was retained again by BICSA to act as independent engineer during the expansion of the passenger terminal and related commercial development. Nathan certified construction milestones and the budget for the bank prior to each loan disbursement.

Phase III: In 2016, Nathan was contracted a third time to provide independent engineering services to the IIC for the expansion of the passenger terminal. The Nathan team is completing a revision of the new layout and design, analysis of the investments, analysis of the airport and commercial revenues and a review of the technical, operational and financial viability of the expansion.









Costa Rica

Relevant Services

Asset Performance Assessment & Monitoring, Transaction Advisory Services & Project Finance Structuring

 All Projects