Poland discloses the involvement of international investors committing €1.8 billion in the

Poland discloses the involvement of international investors committing €1.8 billion in the "mega-airport" project.

A consortium consisting of Vinci Airports from France and Australia-based IFM Global Infrastructure Fund has been selected as the investment partner for the planned "mega-airport" and transport hub in central Poland. They will contribute up to 8 billion zloty (€1.79 billion) in exchange for a minority stake.

The Solidarity Transport Hub (CPK) has been a flagship initiative of the current Law and Justice (PiS) government. However, a new opposition coalition set to come into power after the October 15 elections has expressed skepticism about the idea and vowed to conduct a financial audit.

The total cost of the CPK project is anticipated to reach 36.2 billion zloty (€8.1 billion), with 60% covered by debt financing (bonds and loans) and the remaining 40% from investors. The Polish state will retain a majority stake.

Vinci Airports manages over 70 airports in 13 countries, and IFM Global Infrastructure Fund oversees around $143 billion in assets, with approximately $64 billion in infrastructure equity investments, including stakes in 17 airports worldwide.

Their consortium is expected to bring not only capital but also expertise to the CPK project. Marcin Horała, the government official overseeing CPK, emphasized the entry of Vinci and IFM as proof of the project's sound planning and potential for a high return on investment.

Despite the imminent change in government, the CPK project faces uncertainties, with opposition groups expressing differing stances. The centre-right Third Way (Trzecia Droga) alliance has pledged to entirely scrap CPK, arguing that the funds could be better utilized elsewhere. The main opposition group, Civic Coalition (KO), has committed to reviewing the project once in power.

After the announcement of Vinci and IFM as partners, critics from the opposition voiced concerns about the outgoing government's non-transparent procedures. The debate over the project's future is further fueled by calls for an urgent audit and scrutiny of the enormous expenditures.

Defending the project, Horała highlighted a recent EY report indicating significant economic benefits, emphasizing the project's strategic importance beyond its economic aspects. The government envisions the airport evolving into a major global hub, initially serving up to 40 million passengers annually, with plans to expand to at least 65 million passengers per year by 2060.

Poland, Global News,

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