M&G Investments has provided £30m of debt financing to Belfast International Airport, owned by Vinci Airports, as part of a £100m funding package. The proceeds will support investment into the airport to improve facilities, capacity and passenger experience.
Vinci said phase one of the investment programme was already underway, with the construction of a new security building adjacent to the current terminal building.
This “ultra-modern £25m facility will transform the passenger security experience by implementing the required Standard 3 Xray screening equipment, meaning passengers will no longer have to remove liquids or electronics from their luggage”, the airport owner added. The new building will be operational by summer 2024.
M&G’s funding will also support Vinci Airports’ plan to revamp existing facilities at Belfast Airport and improve the airside departure area with additional departure gates and extra seating.
Tim Huband, head of project finance at M&G, said: “Belfast Airport is an important hub for Northern Ireland, providing jobs, trade and connectivity to the region.
“As long-term investors, we are pleased to partner with companies to support their investment plans. In this case, the capital can be put to work into multi-year projects that will benefit the experience for all those who use the airport.”
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