On February 17th, the Republic of Guinea, Africa50 and Groupe ADP signed a 25-year concession agreement for the development and financing of the modernisation and extension of Gbessia International Airport, at a project presentation ceremony in Conakry.
Under the terms of the shareholders agreement signed on 3 February 2020, the three partners committed to acquiring a stake in the new company leading the project, the Gbessia Airport Management Company (SOGEAG), the share capital of which is broken down as follows: 34% held by the Republic of Guinea, 33% by Africa50 and 33% by Groupe ADP.
The project covers the construction and operation of a new terminal for domestic and international passengers and the associated infrastructure: a new cargo terminal, a parking area, and the renovation and extension of the runway and main taxiways.
The new terminal will have the capacity to accommodate one million passengers, in order to meet the traffic forecasts for 2031. Work on the first phase of the project, representing total investment of nearly €120 million, is due to start this year.
Groupe ADP, a world leader in the development and operation of airports, will contribute its in-depth knowledge in the field of airport operations. Africa50, a Pan-African infrastructure investment platform, will bring its expertise in the development and financing of projects and will oversee the relationship between the private investors and the Guinean government, one of the State shareholders.
This project will enable the modernisation and improvement of service levels and the safety and security of passengers, while generating growth in economic activity and ensuring a strong focus on environmental issues. The aim is for the airport to obtain OACI certification shortly after completion of the new passenger terminal.
At the ceremony, Xavier Hürstel, Executive Director in charge of coordinating the development operations of Groupe ADP, highlighted that: “the Republic of Guinea and Groupe ADP have been working together for over 32 years and the signing of this agreement underlines not only our close relationship and trust but also the ambition we share for Conakry Gbessia International Airport. The acquisition by Africa50 of a stake in the airport is also representative of this renewed desire for development and integration. For Groupe ADP, this airport is a key investment in its African development, at a time where this continent expects to see strong growth in its passenger traffic. Together with our partners and through the significant investments made, we intend to turn this into a world-class airport."
Under the terms of the shareholders agreement signed on 3 February 2020, the three partners committed to acquiring a stake in the new company leading the project, the Gbessia Airport Management Company (SOGEAG), the share capital of which is broken down as follows: 34% held by the Republic of Guinea, 33% by Africa50 and 33% by Groupe ADP.
The project covers the construction and operation of a new terminal for domestic and international passengers and the associated infrastructure: a new cargo terminal, a parking area, and the renovation and extension of the runway and main taxiways.
The new terminal will have the capacity to accommodate one million passengers, in order to meet the traffic forecasts for 2031. Work on the first phase of the project, representing total investment of nearly €120 million, is due to start this year.
Groupe ADP, a world leader in the development and operation of airports, will contribute its in-depth knowledge in the field of airport operations. Africa50, a Pan-African infrastructure investment platform, will bring its expertise in the development and financing of projects and will oversee the relationship between the private investors and the Guinean government, one of the State shareholders.
This project will enable the modernisation and improvement of service levels and the safety and security of passengers, while generating growth in economic activity and ensuring a strong focus on environmental issues. The aim is for the airport to obtain OACI certification shortly after completion of the new passenger terminal.
At the ceremony, Xavier Hürstel, Executive Director in charge of coordinating the development operations of Groupe ADP, highlighted that: “the Republic of Guinea and Groupe ADP have been working together for over 32 years and the signing of this agreement underlines not only our close relationship and trust but also the ambition we share for Conakry Gbessia International Airport. The acquisition by Africa50 of a stake in the airport is also representative of this renewed desire for development and integration. For Groupe ADP, this airport is a key investment in its African development, at a time where this continent expects to see strong growth in its passenger traffic. Together with our partners and through the significant investments made, we intend to turn this into a world-class airport."
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