The Republic of Guinea, Africa50 and Groupe ADP lay foundation stone for the new Gbessia-Conakry international airport
The President of the Republic of Guinea, His Excellency Professor Alpha Condé, on Saturday October 10, laid the foundation stone of the new Gbessia-Conakry international airport, at an official ceremony.
This ceremony follows the signing of a 25-year concession contract awarded to the Gbessia Airport Management Company (SO.GEAG) on February 17, 2020, which is owned by the Government of Guinea (34%), Africa50 (33%) and Groupe ADP (33%). This public-private partnership deal covers the development and financing of the airport expansion and modernization.
The cost of the first phase of the project is estimated at 120 million euros, which includes the construction and operation of a new terminal for domestic passengers and international facilities and related infrastructures: a new terminal for freight, a parking area, renovation and extension of the runway and the main taxiways. The various road improvements included in the work will also improve access routes from the city of Conakry and reduce congestion on the Fidel Castro highway to the airport.
The success of the project is based on the complementarity of the partners: Groupe ADP, who will provide expertise in the field of airport operations and Africa50, its know-how in terms of development, project financing and relations between private investors and the Guinean State, one of its shareholder countries.
When works on the new airport is complete, passenger traffic will double to more than 1.5 million passengers per year and quadruple its freight handling capacity as well. The improvement in service delivery at the airport, safety and security levels is also expected to help the airport achieve ICAO certification soon after project completion. This development dynamic will be especially inclusive with the creation of direct and indirect jobs during the construction phase, the training and qualification of airport employees, as well as the significant expected benefits in terms of improved economic activity to support the growth of the country.
Africa50 is a pan-African investment platform that contributes to Africa’s growth by developing and investing in bankable projects, catalyzing public sector capital, and mobilizing private sector funding. It prioritizes investment in medium-to large scale projects in the power, transport, ICT and midstream gas sectors, providing appropriate risk-adjusted return to investors, while delivering development impact.
Africa50’s investor base is currently composed of 28 African countries, the African Development Bank, the Central Bank of West African States (BCEAO), and Bank Al-Maghrib.
For more information: www.africa50.com.