May 09, 2024 (MLN): The operator of Istanbul’s new $11 billion airport is exploring a global foray into markets including Pakistan, North America, and the Middle East as it seeks to diversify and expand its operations, as Bloomberg reported.
The shareholders of IGA Havalimani Isletmeleri AS, as the airport outside the Turkish metropolis is formally known, are looking for local partners to collaborate on bids for projects in the US, according to Mehmet Kalyoncu, a director on the board of the airport operator.
The company would also like to participate in mega airport projects planned in the Middle East, Kalyoncu said.
“We want to start these steps to put our efforts on an international level to maybe find a chance to repeat something possibly similar to what we have achieved,” Kalyoncu, who is the scion of privately-held construction conglomerate Kalyon Holdings, said in an interview in London.
Projects such as the modernisation of New York’s John F. Kennedy and Los Angeles Airport are appealing given the similarity in complexity and scale to the building of IGA, Kalyoncu said.
Located 20 miles (32 kilometers) outside Istanbul on the Black Sea, IGA has three operational runways.
The hub, which now ranks as No. 2 behind London Heathrow airport, occupies an area larger than Manhattan and will eventually cater to 200 million passengers with six runways.
While some international projects will be led by Kalyon Holdings, Kalyoncu said he aims to involve project partner Cengiz Insaat AS in other overseas forays. Funding will be project specific, depending on the concession agreements, he said.
The company expects to firm up its international expansion plans in the next 1-2 years, he said.
