BVI Airports Authority (BVIAA) has entered into an agreement with WSP Canada INC. (WSP) to carry out a public private partnership feasibility study to evaluate the feasibility of a PPP transaction for the Terrance B. Lettsome International Airport. Photo: VINO/File

WSP is one of the world's leading engineering, professional services and consultancy firms, with over 42,000 staff, in more than 550 offices, across 40 countries. Among their broad range of services spanning varied sectors, WSP provides airport financial consulting services including project feasibility, financial planning, funding advisory and alternative project delivery.

The PPP is expected to be one of Finance, Build, Operate and Transfer. The consultancy with WSP includes a market sounding to ascertain interest from the market players in a transaction for the expansion of the runway and related airside infrastructure via a long-term concession.

The scope of work includes development of procurement documentation to include;

 i) Performance and design specifications for the runway expansion and related airside infrastructure;

ii) Overall management of the procurement process;

iii) Assisting the BVIAA to develop the concession and legal agreements; and

iv) Lead the arrangements with the preferred bidder.

BVIAA is committed to providing the British Virgin Islands via this PPP, with a world class airport facility that provides direct access to the US mainland and as such increased runway length is just one aspect of the overall anticipated development. Terminal expansion, improved baggage handling, enhanced air cargo services and an expanded FBO facility for the handling of private jets are also be included.

It is a fact that prior to Hurricane Irma, we led many of our Caribbean neighbours in terms of tourism product and overnight visitors but remained decades behind them in terms of airport infrastructure. As such, and given that the BVI’s economy relies on tourism as a key pillar, it is essential that we continually improve our facilities to meet the demands of this vital industry.