Honeywell to provide DM 24.5m (140 words)

Published: 1/25/2001

139 The Ukrainian cabinet has asked the Ministry of Finance how they intend to assist Kiev/Boyspil International Airport in repaying its loans to EADS, for the development of the airport; being the original prime contractor responsible for the rebuild. The subsequent disposal by DASA (EADS's predecessor - who acquired the original DM 30m contract, in 1996) of their airport systems business to Honeywell in 1998, has led to EADS remaining as the principal contractor. The financing however, is coming from Honeywell, who have taken responsibility for the project. The loan, worth DM 24.9m, is required to finance stage two of runway No1 reconstruction; adding to the syndicated loan of DM 48.5m already received from a consortium of banks headed by Kreditanstalt für Wiederaufbau. The first stage of the runway reconstruction, which attracted DM 125m worth of loans, has been completed.

Article ID: 2321