Aecon Group Inc. announced that VIports Partners has been selected by the U.S. Virgin Islands Port Authority to redevelop the Cyril E. King Airport in St. Thomas and the Henry E. Rohlsen Airport in St. Croix under a collaborative Design, Build, Finance, Operate and Maintain (DBFOM) Public-Private Partnership model.

VIports is comprised of Aecon, Tikehau Star Infra, Consigli Benton Joint Venture (J. Benton Construction) and Avports. Aecon Concessions will hold a 50% equity interest in the 40-year concession with Tikehau Star Infra also holding 50% of the equity. Aecon, as Design-Build lead, will also have a 50% interest in the Design-Build joint venture together with local partner J. Benton Construction.

Avports will serve as the operations and maintenance partner. Under a transition phase agreement, VIports and VIPA will negotiate and finalize various elements of the project over a nine-month period. Upon successful completion of the transition phase, financial close is expected in the first quarter of 2025.