Chelverton signs contract to renovate Szczecin airport

Chelverton International of Britain is to invest $170 million in refurbishing the Szczecin-Dabie airport and its auxiliary infrastructure. The contract was signed between the municipality of Szczecin and Chelverton representatives on Friday as a follow-up to a letter of intent endorsed earlier this year in Cannes during the Real-estate Fair. The contract envisages that Chelverton would lease an area of 170 hectares for 30 years, with a preemptive right to extend the tenancy when it is due. Chelverton sources told the Polish Press Agency (PAP) that they would build a 1,300 meter-hard-surface runway alongside a state-of-art logistic center and a tourist center which would encompass some retail and amusement parks beside a marina. The investment which starts in September is to be implemented in two phases: first the completion of the airport by 2002 and later the auxiliary infrastructure slated for completion in 2005. (Prawo i Gospodarka, Aug. 12-13, page 3)