MercoPress. South Atlantic News Agency

New Carrasco air terminal.

Carrasco, Uruguay's main airport is undergoing a rapid expansion and renewal process involving millions of dollars and with the objective of converting it in a regional hub for Mercosur countries.

The company that holds the thirty year concession of Carrasco made this week the official presentation of the new air terminal project that should be ready for 2009 at a cost estimate in over 100 million US dollars.

Eduardo Eurnekian the Armenian Argentine born businessman who holds the concession with the company "Puerta del Sur" indicated the new air terminal was designed and will be built by architect Rafael Viñoly, among the world's top rated professionals in his field of expertise.

The new air terminal when finished will be able to handle 8 million passengers annually.

Mr. Eurnekian who manages over 30 airports mainly in Argentina and in Italy with Italian associates said Carrasco is "the most valuable of our holdings and with greatest potential", adding that the main air strip will be extended to three kilometres.

"We expect to create a thousand jobs with the building of the new terminal that will be a real architectural impact for the region", added Mr. Eurnekian.

The Armenian-Argentine investor is also the main donator of funds (an estimated one million US dollars) for the Memorial built in the Falkland Islands to honour Argentine combatants of the 1982 South Atlantic conflict.