By Andrea Figueras

Vinci Airports said it reached an agreement with the Government of the Dominican Republic to extended an airport concession contract for 30 more years.

The contract, which will run until 2060 following the extension, is for the French construction company's subsidiary Aerodom, Vinci said on Friday.

Vinci will make an upfront payment of $775 million to the Dominican State and will invest $830 million in the airports' infrastructure throughout the concession period, the company said.

It will be responsible for financing, operating, maintaining, developing and upgrading the modernization of the airports under concession, it said.

The company will also build and operate a new passenger terminal at Santo Domingo airport and will continue to implement its environmental action plan, it said.

Write to Andrea Figueras at andrea.figueras@wsj.com

(END) Dow Jones Newswires

December 22, 2023 03:21 ET (08:21 GMT)

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