Africa50, the pan-African infrastructure investment platform, will develop and invest in the upgrade of Gbessia International Airport in Guinea. The project consists of the construction and operation of a new terminal for international and domestic passengers and related infrastructure, including a cargo terminal, apron, and taxiways.
The new terminal will have a capacity of one million passengers a year, which is almost twice its current capacity and is expected to be reached by 2031. Phase 1 of the project, with an investment of about €100 million, should begin in the first quarter of 2020. Africa50’s principal partner is Aéroports de Paris International Group (ADP), which typically owns stakes in airports and acts as a strategic partner for airport operations alongside investors and other industrial partners.
Africa50 will provide its project development and financial expertise and act as a bridge between private investors and the Government of Guinea, an Africa50 shareholder. Upon completion, it will participate in a new concession company alongside ADP. The upgrade will have a significant development impact, providing higher levels of service and safety for passengers and an expansion of economic activity. It should also lead to international certification of the airport by 2024.
Speaking the signing ceremony, Honorable Mamadi Camara, Minister of Economy and Finance of the Republique of Guinea commended all partners for reaching this milestone and reiterated its significance for the country’s development agenda. “This concession agreement between the Government of Guinea, Africa50 and Aéroports de Paris is critical for the modernization, expansion and operation of the International Airport of Conakry Gbessia”, he said.
Koffi Klousseh, Africa50 Director of Project development, who signed the agreement on behalf of Africa50, stated: “Upgrading Africa’s airports is essential to foster regional integration and better link the continent to the world economy. Passenger numbers across the region are expected to grow by more than 5% by 2035 and Guinea is no exception. Our upgrade of Gbessia International Airport will ensure the attractiveness and efficiency of this important gateway to the country. It is a great example of how Africa50 can use its project development expertise, capital, and government relations to improve transportation infrastructure in Africa”.
About Africa50
Africa50 is an infrastructure investment platform that contributes to Africa's growth by developing and investing in bankable projects, catalyzing public sector capital, and mobilizing private sector funding, with differentiated financial returns and 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
Media Contact:
Fleur Tchibota, Africa50 Head of Communications: +212 666 171 099; f.tchibota@africa50.com
Category: Press Release