Development Plans Announced at the Invitation of the Uzbek President
"Building a Second Incheon Airport in Uzbekistan... Expanding Overseas Business"
The Urgench Airport development project in Uzbekistan, for which Incheon International Airport Corporation has been selected as the preferred negotiating partner, is gaining momentum with the full support of the local government.
Lee Hakjae, President of Incheon International Airport Corporation (second from right), and Shavkat Mirziyoyev, President of Uzbekistan (second from left), are shaking hands after a meeting regarding the Urgench Airport development project on the 1st. Provided by Incheon Airport Corporation
According to Incheon International Airport Corporation on May 7, President Lee Hakjae recently visited Uzbekistan to present the corporation’s development plans for Urgench Airport and held in-depth discussions about the project with President Shavkat Mirziyoyev of Uzbekistan.
This meeting took place at the invitation of President Mirziyoyev. The meeting, held on the 1st at Urgench Airport, was attended by President Mirziyoyev, the Deputy Prime Minister for Economic Affairs, the Vice Minister of Transport, and other high-ranking officials from the Uzbek government, as well as President Lee Hakjae, Head of New Business Division Lee Sangyong, and other representatives from the corporation.
President Lee directly explained the corporation’s approach to the construction and operation of Urgench Airport. President Mirziyoyev stated, "I am very pleased that the corporation has been selected as the preferred negotiating partner," and promised, "The government will provide full support for permits and approvals so that construction and operation can proceed quickly."
Prior to the meeting, on April 29, President Lee also held a separate meeting with Minister of Transport Ilkhom Mahkamov of Uzbekistan to comprehensively discuss cooperation on local airport development and network expansion, thereby strengthening the foundation for future overseas contracts.
The Urgench Airport development and operation PPP is the corporation’s first airport public-private partnership project in Central Asia, with a total project cost of approximately 200 billion won. A new passenger terminal with an annual capacity of about 3 million passengers will be constructed over three years and operated for 19 years.
The corporation was selected as the preferred negotiating partner through an international competitive bidding process last month. Starting with this official presidential meeting, the corporation plans to conduct main negotiations with the Uzbek Ministry of Transport over the next three months. Once the final implementation agreement is signed with the commissioning authority, the corporation will secure 100% operational rights for the new Urgench Airport passenger terminal, taking full charge of its development and operation.
President Lee said, "Given the high level of interest shown by the President of Uzbekistan in the Urgench Airport project, we expect the project to gain further momentum in future negotiations and contract signing. Building on the corporation’s accumulated expertise, we aim to win the Urgench Airport project, develop it as a second Incheon Airport, and create a new turning point for expanding our overseas business."
Meanwhile, since launching the Erbil New Airport operation support project in Iraq in 2009, the corporation has secured 39 projects in 18 countries to date. The cumulative value of these contracts amounts to 405 million dollars. The corporation aims to operate at least 10 overseas airports by 2030.
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