Financial setback for Zagreb Airport’s new terminal
The construction of Zagreb Airport’s multi million euro terminal is still in doubt since the consortium set to fund and run the brand new terminal, Zagreb International Airport Company (ZAIC), has still not secured the necessary finances or permits. Under the contract signed with the Croatian government, the consortium has until April 11 to secure all necessary finances for the 365 million euro project, otherwise it will be terminated.
Several companies have recently joined the consortium in order to provide much needed cash for the project, however, ZAIC will have to take out several loans, the largest one being from the European Investment Bank. The bank wants the Croatian government to guarantee that the loan will be repaid in case the consortium goes bust during the construction process. However, the concession agreement forbids financial involvement on behalf of the government, barring it from acting as a guarantor. Without the loan from the European Investment Bank, ZAIC will be short on cash to fund Croatia’s biggest infrastructure project.
If the necessary funds are found for the new terminal, construction is not set to begin before September. Originally, the first cranes and shovels were expected to be seen at Pleso next month. Furthermore, ZAIC still hasn’t secured necessary permits for the construction of the terminal. This is because the Croatian government still hasn’t bought all necessary land where building work is set to take place. “We expect to have all necessary permits by June”, ZAIC says. Despite the delays, the architectural design of the new terminal has been finalised, though it is yet to be revealed to the public. Once construction starts, it must be completed within 1.095 days (three years). Recently, it was revealed that the Croatian government has its own, scaled down, project for the new terminal if ZAIC, lead by Aéroports de Paris, opts out of their contract.
Hahahahahahahahahahahaha
ReplyDelete"...ZAIC will be short on cash to fund Croatia’s biggest infrastructure project."
ReplyDeleteCroatia’s biggest infrastructure project is stretching it "a bit." Just wanted to point that out.
well all major infrastructure projects have issues and delays, but new terminal is on schedule and construction will start on time as planned.
DeleteAnd finances are in place as well.
http://liderpress.hr/tvrtke-i-trzista/poslovna-scena/eib-odobrio-kredit-zracnoj-luci-zagreb-od-120-milijuna-eura-1/
Zagrebuje Lud Zbunjenog!
ReplyDeleteJat fleet renewal and Zagreb new terminal. Never ending sagas. :)
ReplyDeleteHere's my advice if I may.
ReplyDeleteForm the company named Hrvatska d.o.o. or Croatia Inc. and sell it off to someone who knows what they are doing.
I am more and more inclined to move out of this s-hole called Croatia and Balkans.
Like this problem on exists in Croatia or the Balkans. I live in Sydney Australia a country which has seen economic growth while the rest of the worlds (except for China and India)economies collapse.
DeleteFor 30 years Sydney has seriously wanted to build a new airport and nothing has been done. look up: http://en.wikipedia.org/wiki/Second_Sydney_Airport
I'm sure if you search you'll find other examples of other countries struggling to undertake big development projects too.
Europe is a economical mess at the moment and we should be very optimistic about any major airport upgrade at Zagreb in the near future which is a real shame. Most probable scenario here will be the deal abandoned and the current terminal extended until better economic time prevail. In saying that, I do hope I'm wrong.
Really dude your comparing a cash straped Terminal Refurb project to THE BUILDING OF A NEW INTERNATIONAL AIRPORT IN A CITY WITH 4MILLION + PEOPLE??? Im not gonna jump to conclusions and gonna hope you just misread the article thats why you compared it..... SYdneys issue is trying to find a suitable location unlike most of the balkans we have laws that are ENFORCED such as Noise, environment pollution which are all taken into consideration .... Badgeries Creek which has gov owed land is prob the most ideal location but in saying that you have camden airport close by as well as it being smack bang in the middle of the Bankstown Training area for GA having a airport there will kill off YSBK and YSCN completly all schools will close and most people will move up to the hunter or wollongong this is also a site where it sits on the edge of syd so its an ideal opportunity to cash in on the land to developers and have another suburb built ..... Then you have Wilmot which is good in size and gov land but not ideal for commuting from sydney to .... and you have the biggest influence OUR PRIVATLY OWNED AIRPORT which doesnt want to lose profits and maintains we are not at capacity in order to stop a project which would lose us money (Macqaurie bank) ...... Money is not an issue in Australia for such infrustructure things are looked at communites are heard, and company bribe to save there own (especially when your macq bank the most powerful business in aus)
DeleteIn conclusion your comparisons has no relevance
They are compatible in my opinion.
DeleteBankstown and Camden airports are leaking money and the state government would not give 2 hoots if all flight training is moved away from the Sydney area to lets say Wollongong or the hunter region. It would probably even be a great idea to help boost the economy in those regions. I have worked out of Bankstown for years and can really see that how for about 20 flying schools 3 charter / freight companies and a cafe it is great but for the rest of Sydney, it is really a waste of space in a prime location.
But the comparison example I wanted to make is this simple. Both Zagreb and Sydney want to build something relatively big and they both have problems building it and as a result there are delays. Now, the reasons for the delays are obviously different. That is normal, we don't live in a black and white world so the differences could be endless. But I just wanted to make the point that this kind of set backs are not uncommon and are not only found in the former Yugo but also in well developed countries like Australia too.
This is the issue with people in Australian so called "AVIATION" if you are at all, you'd rather see pretty jets fly into a new airport then save the industry GA is the backbone of aviation and YSBK is the 4th busiest airport in australia by aircraft movement over 250,000 recorded a year so its more then PRIME LOCATION its what does the hardyards for those pretty jets you wanna see fly around... TOLL PRIORITY itself keeps thousands of business in business from rural areas, by supplying to and back to sydney. The flying schools which i represent work to prepare the next fleet of pilots into those pretty jets, we cater for charter scenic flights so tourist can catch a glimpse of our beautiful city. Private Jets, maintainance and private flying.... That prime peice of land you typical MAJOR CITY MENTALITY see it as enables the BYRON BAY COOKIE COMPANY to keep its costs lower by using TOLL PRIORITY to deliver 10 pallets of its products all around sydney at a lower cost because YSBK is no where near as much as it would cost to operate TOLL from YSSY on a rural scale.... SO your wrong in terms of it being great for just 11* schools, 14* charter companies, Major frieght companies, Maintainance facilities and flying clubs.... DUnno if you claim to be a pilot but if you are then you should know the average cost at YSBK to complete your CPL, ME, FIR, ATPL etc is at around 80k expensive enough let alone to have to commute to the Hunter or the gong where they dont have a catchment of 4million potential pilots and the having that disappear basically buckles sydneys aviation future..... IF you ask me a project should be done to YSBK there is plenty of room on the northern side to turn it into a LCC airport for Jetstar and Tiger which would reduce costs, reduce congestion at YSSY and decrease pricing due to lower landing fess and taces.... taking the golf course, the old boeing headoffice and moving the aviation museum would enable this to occur but thats not going to happen
DeleteIn your comparison point i get your saying that difference countries have different issues but the issues is they are cash straped and we are run by banks that own things and dont wanna lose profits which our gov gives into.... MACQ BANK IS THE REASON NO AIRPORT WILL BE BUILT IN A HURRY BECAUSE IT DOESNT WANT TO LOSE ITS PROFITS BEING THE BANK IT IS IT OBVIOUSLY INFLUENCES OUR GOV
Southern side*
Delete... and example of Berlin Brandenburg Airport! And those are Germans, lot of money, control and discipline... and still total fiasco! Delay for 2 years and very questionable future!
ReplyDeleteIn this moment it is much better option for ZAG to cancel concession, and to make terminal 2 west of old building. So they should make new terminal for some 2 million passengers what would be some 4 million in combination with old terminal.
Finally some sense coming out from your mouth. Have you been to a dry therapy?
DeleteSense comes from my mouth every time! But problem is that some of us are not real and can not see truth if it is not on “other side”! Unfortunately some people are blind for stupidity just because it is colored by their nation. I am not. When someone in Zagreb or Croatia makes something stupid, I will always say so. And about stupidity of new ZAG terminal and concession I was always totally against it the way it is doing. And I made big enemies in Zagreb because of that. Do I have satisfaction that I was right about that now? Of course not! I would be happy if I was not right.
DeleteUnfortunately Zagreb was not so lucky to have much bigger than needed, new and modern terminal built by Yugoslavia, as for example Belgrade was. Of course during and after war money has to be spent for renovation and rebuilding (not just several hundred thousands of houses, but also total rebuild of ZAD, DBV and OSI airports which were totally devastated). But for sure last 12-15 years ZAG has no excuse. Good traffic, huge profit, potentials, EU support... For me good project was that by Matkovic from 2009. For sure megalomaniac, better would be that it was more modest, but that project was real, and good for Zagreb and Croatia. Unfortunately now we spent another 4 years what no one can bring back and, as it looks now, we are back to position of 2009. Maybe even worse. Not because of profession, but because of politicians.
zagrebovanje over and over ;)
DeleteGuys you're all making a mountain out of a molehill, Zagreb's new terminal will be on time and on schedule and ZIC will get all the necessary funding and support.
DeleteJutarnji List and all newspapers in Croatia tend to exaggerate things to the extreme, they're trying to create a story where there's is none.
French government might help out and EU funds will also kick in, Croatian government is already talking to the EU regarding this and several other projects, including 4€ billion high speed rail link between Rijeka and Hungarian Border, of which 750€ million will be financed by the EU over 5 year period.
I think some people in Croatia have nothing better to do than create havoc, and i am referring to stupid journalist this time, many of whom have no clue what they're talking or writing about.
Also don't forget project is 365€ million + Airport City, a huge project by Croatian standards.
current government is also looking at re-starting peljesac bridge project at reduced scale (200€ million instead of 420€ million) and few other capitol projects all partially financed by the EU (25% of total value).
Things are looking good, SDP is in charge, not HDZ who promised new Airport terminal in 2003 elections, 10 years ago, all they did is steal money from hard working taxpayers.
In the end I think they will just upgrade and rebuild the current terminal.
ReplyDeleteCurrent terminal is being rebuilt and modernized, but this can't cope with future growth, max capacity current terminal can handle is 3.5 million, this is after terminal being extended by additional 5700sqm.
Deletethere's a good article on proposed new terminal, good read.
http://www.airport-business.com/2012/03/zagreb-terminal-concession-to-enhance-regional-hub-potential/#
Haters gonna hate but...
ReplyDeletehttp://aviokarta.net/vesti/1725-avioni-za-jat-airways-stizu-uskoro/
That's why haters are there for... By the way more than a dozen of comments was deleted since this morning about zagy.
DeleteZagreb is just so miserable.
ReplyDeleteLOLOLOLLOLOLLL WHEN Z****B.......... Ill pretend ti be a typical jat hater with this article...... "Croatia will never have a new terminal".....
ReplyDelete"All talk no action" .....
"Nov: Have meeting no cash.. Dec have meeting and plan but no cash....
Jan have meeting and plan and consider people to construct but no cash.....
Feb still having meetings....
Mar: NO CASH"
"Zagrab airport will go bankrupt before a new terminal"
Almost identical to a Jat hating posts
Zagreb airport is very profitable organization. There is no way it can bankrupt with or without new terminal
DeleteDoes any one know what the status for Pristina's new airport is?
ReplyDeleteI work at Zurich Airport:
ReplyDeletewhat we have to much of construction, other parts have to less constructions... sometimes it angers me when I m walking thru ZRH airport and notice all the construction sites we have but at least here we see some progress. ZAG is waiting now since so many years, but Purger is right, this project seems rather too big and expensive. But ZAG definitely needs asap a terminal with 8-10 jetbridges and space blocked for possible extension at a later stage.
BER, no words for them.... just a sign that also in our so called "western hemishpere" many things have changed to the bad
OT: Montenegro Airlines not suspending INI. Source is AVIOKARTA
ReplyDeleteljudi, 12.mart a ovi sa BEGa jos uvek ne objavise rezultate februara.. wtf?!
ReplyDelete@Hi ex-yu aviation!
ReplyDeleteI've been googling for half an hour now, and I couldn't find the source of your info about ZAG.
The latest info about it I found, are statements given in February by ZAIC president that construction is to start in september, and by croatian transportation minister that by april all papers would be ready.
So, could you tell us, or at least me, where did you get this info that zag is problematic again. Thanks!
there was an article in Vecernji list, http://www.vecernji.hr/vijesti/francuzi-jos-nisu-skupili-356-milijuna-eura-pleso-clanak-522054 - but mostly a speculation not really based on any evidence or facts.
DeleteStory is basically a re-write of the same story published in February and one in December last year, almost word for word.
They even talk about land issue not being solved when Croatian government gave a go ahead for Air Force to move from the land.
Whole story is just pure speculative nonsense posted by eager yellow trash so called journalist who hasn't done his legwork but re-writes same stories to justify his pay check.
More the saucier story more bonus he gets.
I supposed so; Thanks!
DeleteAs I've said Yellow trash journalism is highly popular in Croatia, its a national past time.
DeleteBut just to reassure you, project is going ahead and on plan.
http://liderpress.hr/tvrtke-i-trzista/poslovna-scena/eib-odobrio-kredit-zracnoj-luci-zagreb-od-120-milijuna-eura-1/
Airport has secured land and finances and now all it needs is a good weather and construction will start in earnest.