Three developers in the race for Lekki International Airport concession in Nigeria

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Three developers in the race for Lekki International Airport concession in Nigeria

Three consortia led by Bouygues Batiment, Eko Global and Maevis, are in the race for the first round of bidding for the development of the second international airport in Lagos, the Lekki International Airport. The project will be awarded under a Design, Build, Finance, Operate and Manage (DBFOM) concession agreement.

Local sources reported last week that local and foreign representatives of the bidders are currently in the state for the preliminary processes of the bidding as well as holding talks with the government and a team of consultants to the project.

A preferred bidder will be announced in April 2014, while the signing of a concession agreement and project documents will take place in June 2014, with the financial close of deal expected in September.

Arup, Norton Rose Fulbright, Stanbic IBTC Capital (Standard Bank Group)  and a Nigerian-based legal firm, Banwo & Ighodalo, are advising to the Government.

The airport, which is being promoted by Lagos State government, is to complement the existing federal-owned Murtala Mohammed International Airport (MMA) in Ikeja. The new airport will sit on 4,500 hectares of land and will have three runways and passenger capacity of 3.2 million per annum after the first phase.

The contract has an estimated investment amount of US$450 million.

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