Investors plan to spend on airbase conversion in Hungary

Irish and Hungarian investors plan to spend several hundred million euros to convert a former military airbase in Mezőkövesd (Northeast-Hungary) into a cargo and passenger airport by 2009, project company Fieldstone announced on last Wednesday.

Sixty percent of Fieldstone is owned by Irish Jermon Airport Limited, and 40% of the company is owned by Hungary’s Airport GSE. Cargo flights are expected to account for 80% of activity at the airport, said Fieldstone managing director Peter Dolan. The first phase of the development, to cost €10-12 million, will involve environmental protection work, the installation of lights and a landing system. The airbase was transferred from the state to three local councils under a government decree at the end of 2007, allowing the local councils to sign a hundred-year lease contract with the investors, Finance Ministry state secretary László Keller said. The investors took into consideration the airbase’s proximity to the M3 motorway, when deciding to make the investments, said government spokesman David Daróczi. (MTI-Econews)

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