Denver city council is reviewing a $1.8 billion 15,000 page contract which spells out plans for a four year renovation plan of the DIA terminal along with 30 years of management. The partner (Madrid-based Ferrovial Airports) would oversee the renovation and concession spaces for the following 34 years.
The actual cost of renovation would be about $650 million. The rest of the costs would be distributed over the next 34 years for maintenance and management of concession spaces.
The project is being scrutinized: Critics have raised concerns over the upgrade of the 22-year old Jeppessen Terminal, and a 34 year single contract to be signed with a private partner (which could prevent future growth and competitive bids at DIA).
The goal of the terminal upgrade is to increase capacity as the airport nears 60 million passengers per year.
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