Project financing completed for Madagascar concession

14 July 2017
Design view of the planned new terminal at Ivato International Airport. Source: Bouygues Batiment International

A team of banks has finalised financial arrangements for private-sector investment in two airports in Madagascar.

Since December 2016, Ravinala Airports has held a 28-year concession from the government of Madagascar to operate Nosy Be Airport and Ivato International Airport. The concession company comprises Groupe ADP subsidiary ADP Management (35%); a 50:50 design/construction partnership between Colas Madagascar and Bouygues Batiment International (20%); and Meridiam Africa (45%).

A consortium of five international banks worked with Ravinala Airports to finalise the fixed investment programme on 25 June. The International Finance Corporation of the World Bank, Proparco, the Development Bank of Southern Africa, the Emerging Africa Infrastructure Fund Limited, and the OPEC Fund for International Development – together with capital from Ravinala Airports – will help to ensure that the development programme for the two airports proceeds to plan.

Under Phase One of the concession agreement, Ravinala Airports is to design, build, and operate a new 17,500 m² international terminal at Ivato, which serves the Malagasy capital Antananarivo. ADP Ingénierie is working on the design of the terminal. At each airport, one runway and one terminal will also be refurbished, and all facilities will be brought up to ICAO technical and environmental standards.

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