Incheon to invest $132 million in modernization of Urgench airport

Uzbekistan Airports and Incheon International Airport Corporation (IIAC) of South Korea have signed a public–private partnership (PPP) agreement to modernize and manage Urgench International Airport, the press service of Uzbekistan Airports reported.

On October 15 in Tashkent, Uzbekistan Airports, Urgench International Airport, and Incheon International Airport Corporation signed a tripartite PPP agreement for the modernization and management of the airport. Minister of Transport Ilkhom Makhkamov attended the signing ceremony.

“The partnership with Incheon International Airport Corporation opens a new chapter in the development of Uzbekistan’s airport infrastructure. The experience of our South Korean colleagues in managing one of the world’s best airports will provide a strong foundation for introducing advanced technologies, improving passenger service quality, and strengthening our country’s transit potential,” said Javlonbek Umarhodjaev, CEO of Uzbekistan Airports.

The PPP agreement envisions joint implementation of the project to modernize and manage the airport. The private partner will be responsible for constructing and operating passenger and cargo terminals, including ground handling services. The state partner will oversee the construction and operation of the airfield infrastructure, including the runway and apron.

President Shavkat Mirziyoyev announced yesterday that the South Korean partner will invest $132 million in the project and commit to increasing the passenger and cargo terminal capacity fivefold.

In April, it was reported that Urgench International Airport would be transferred to the management of Incheon International Airport Corporation, which won the corresponding tender.

The total value of the PPP project is estimated at $222 million. The private partner will invest $115 million in modernizing the airport and will manage its operations until 2047.