The Port Authority of the US Virgin Islands has selected VIports Partners, a consortium led by Toronto-based Aecon Group Inc., for a public-private partnership that will redevelop terminals at two airports. The P3 team will also maintain and operate the airports, Cyril E. King Airport in St. Thomas and Henry E. Rohlsen Airport in St. Croix, for 40 years.
Officials and the companies have not shared the financial terms of the deal, but Carlton Dowe, the port authority’s executive director, said during an April 5 event that the projects at both airports together would cost “hundreds of million dollars.” Financial close is expected in early 2025, according to Aecon. VIports will be in charge of financing the terminal projects.
“We’re not asking the taxpayers of this community to bear the burden of finding the money to do this project,” Dowe said. “We’re using private money to do an important public good.”
The P3 contract includes a long-term lease and development agreement for the terminal facilities and an operation and maintenance agreement for airfield and ground operations. The existing terminal at King is 250,000 square feet and the Rohlsen terminal is 148,500 square feet.
Dowe said they expect construction to begin at both airports around the same time next year, with work expected to be completed by the end of 2026.
The VIports consortium includes a construction joint venture with Consigli Construction and local partner J. Benton Construction, with Aecon as the design and construction lead. Corgan Associates Inc. is the terminal architect, AvPorts LLC is the airport operator and Aecon’s equity partner is Tikehau Star Infra. The team says it is already working with local suppliers and subcontractors.
Aecon, ranked 91st on ENR’s 2023 Prime Contractors list, is also part of another P3 that has been renewed and is operating the LF Wade International Airport in Bermuda.
Steve Nackan, president of Aecon Concessions, said the Virgin Islands terminal projects will improve capacity, modernize facilities and improve airport resiliency and sustainability.
“Your airports are mission-critical infrastructure, their modernization and resilience are key to everyday life here and their redevelopment is vital to the economic revitalization of the territory,” he said.
The port authority selected VIports over another proposal. Last year, officials said they shortlisted four teams after eight responded to a request for rankings. The other shortlisted teams included daa international, Vantage Airport Group Ltd. and Vinci Airports. The port authority board voted to approve VIports for the P3 during a March 26 meeting.
