News / MegaProject 964: FC for Madagascar airport PPP

MegaProject 964: FC for Madagascar airport PPP

🕔 July 7, 2017
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Ravinala Airports has finalized its funding arrangements and has commences construction works of the Madagascar’s Ivato international airport in Antananarivo and Fascene international airport in Nosy Be.

The concession company Ravinala Airports, formed by Groupe ADP (35% shareholder via its subsidiary ADP Management), the Bouygues group (20%) through Bouygues Bâtiment International, and Colas Madagascar, a subsidiary of the Colas Group, and Meridiam (45%), has since December 2016 been overseeing the operation of the airports, as part of a concession contract signed for a period of 28 years with the Government of the Republic of Madagascar.

The financing of the fixed investment programme was finalized in June 2017, with a consortium of five international development banks: the International Finance Corporation (IFC) of the World Bank Group, Proparco, the Development Bank of Southern Africa, the Emerging Africa Infrastructure Fund Limited and the OPEC Fund for International Development will, together with the capital contributed by the shareholders of Ravinala Airports, ensure that the ambitious development projects are completed and that the international airports in Antananarivo and Nosy Be are brought up to the required standards.

These two airports welcomed 845,000 and 147,000 passengers respectively in 2016, almost two thirds of whom were international passengers. Their expected average annual passenger numbers should increase by at least 5% over the coming years.

The total Project cost is estimated at approximately €220 million (US$250 million).

Under the concession contract, Ravinala Airports, the concession company, is overseeing the design, construction and operation of the following during phase one:

At Ivato Airport in Antananarivo:

  • a new 17,500 sq.m international terminal with an initial capacity of 1.5 million passengers
  • the renovation of the existing terminal to handle domestic traffic
  • the strengthening and full resurfacing of the runway
  • the technical and environmental compliance of facilities.

At Fascene Airport in Nosy Be:

  • the full refurbishment of the runway and of the existing terminal, and the technical and environmental compliance of facilities.

The construction work at both airports will be carried out by both Bouygues Bâtiment International, a company with vast experience in the design and construction of new airport terminals, and Colas Madagascar, based in Madagascar for the past 60 years, which will contribute the renowned expertise of the Colas Group in airfield roadways.  The two companies have joined forces in a 50/50 “Design Construction” joint venture.

As for Groupe ADP, it will provide assistance in the operation and maintenance of both airports throughout the term of the concession. Furthermore, ADP Ingénierie has been working on the design of the new Ivato Airport terminal.

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