CPK has selected Vinci Airports and IFM Global Infrastructure Fund (IFM) as the preferred bidder in the competition for a strategic investor.

Centralny Port Komunikacyjny (CPK) has selected a French-Australian proposal submitted jointly by Vinci Airports and the IFM Global Infrastructure Fund from international bids submitted by organisations keen to build and manage the new airport.

"We have thoroughly verified our partners in terms of experience, competence and credibility in the implementation of the CPK strategy. Poland will retain control of the strategic infrastructure by taking a stake of no less than 51% in CPK.Lotnisko,” said Mikołaj Wild, CEO of CPK.

Vinci and IFM joining is the best proof that CPK is a well-thought-out project based on numbers

Marcin Horała, CPK

The investor’s tasks include contributing a minority share of the capital necessary for the construction of the airport, as well as supporting CPK.Lotnisko with its experience and know-how in the implementation of the investment and, after its completion, in operating the airport in accordance with the highest industry standards.

CPK investor announcement

The investor’s tasks include contributing a minority share of the capital necessary for the construction of the airport

The assumptions for financing the airport part of CPK are that 60% of the financing for the construction of the airport is to be obtained in the form of debt financing, i.e. bonds or a loan from a consortium of banks, and 40% is to come from investors taking shares in CPK.Lotnisko. It is the minority part of this capital that is the subject of the selected bid, while the majority investor is CPK, i.e. the Polish State Treasury. CPK.Lotnisko will build and then operate the CPK airport.

CPK airport investor

CPK chose Vinci and IFM from bidders from all over the world

Marcin Horała, deputy minister of funds and regional policy, government plenipotentiary for CPK, stressed that building the new airport would enable Poland to tap into the air cargo revenues that had hitherto passed the country by. He added: “Vinci and IFM joining the CPK project is the best proof that CPK is a well-thought-out project based on numbers. It will not only boost the Polish economy, but will also guarantee a high rate of return on investment."

Paris-headquartered Vinci Airports’ portfolio includes 65 airports in 12 countries, which in 2019 (before the COVID-19 pandemic) served more than 240 million passengers. IFM Global Infrastructure Fund (IFM) is an infrastructure investment fund based in Australia. 

Images: Centralny Port Komunikacyjny