White & Case Reignites Quito Airport Project | White & Case LLP International Law Firm, Global Law Practice
White & Case Reignites Quito Airport Project

White & Case Reignites Quito Airport Project

After what has been described as one of the most complex project disputes in Latin America's recent history, construction of Quito's international airport is to resume and documents have been filed to resolve a related ICSID case. Following 18 months of negotiations, multinational investors, Ecuadorean government officials and lenders have reached an agreement to allow a US$660 million project to upgrade the existing airport and construct a new international airport to proceed. The final documentation was signed this month and papers to resolve the case investors had filed at ICSID were filed on Thursday. As well as the huge impact the project will have on Ecuador's economy, it has important ramifications for foreign investment in Ecuador and bilateral relations between the country and Canada, Brazil and the US. White & Case LLP represented concessionaire Corporación Quiport, and sponsors and investors that include Canada's Aecon Group and Airport Development Corporation, Brazil's Andrade Gutierrez and HAS Development, an affiliate of the Houston Airport System. White & Case partner Jonathan Hamilton says, "Contractors and workers are remobilising to achieve a 2012 opening date for this important new airport for Ecuador."