News:Argos:Investors plan to spend on airbase conversion in Hungary

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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.




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