Ivato and Fascene Airports

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The Project envisages the expansion, rehabilitation and operation of the two largest airports in Madagascar: (i) Ivato Airport – serving Antananarivo, the capital city; and (ii) Fascene Airport – serving the island of Nosy Bé, one of the most popular tourist destinations of the country. The Ravinala Airports consortium has been awarded the concession contract for a period of 28 years following a competitive process. The consortium comprises of Aéroports de Paris Management holding 35 per cent, the construction company Bouygues Bâtiment International with a 20 per cent stake and Meridiam with 45 per cent. Under the concession contract, Ravinala Airports, the concession company, is overseeing the design, construction and operation of the following: At Ivato Airport in Antananarivo: (i)a new 17,500 sq.m international terminal with an initial capacity of 1.5 million passengers (ii)the renovation of the existing terminal to handle domestic traffic (iii)the strengthening and full resurfacing of the runway (iv)the technical and environmental compliance of facilities. At Fascene Airport in Nosy Be: (i) the full refurbishment of the runway and of the existing terminal, and the technical and environmental compliance of facilities. Total investment is estimated at $245.1 million being funded via 59:41 debt to equity ratio. The 16-year, EUR 130 million debt financing was provided by a group of lenders comprising: The International Finance Corporation – EUR 45 million, Proparco – EUR 25 million, Development Bank of Southern Africa - EUR 10 million, Emerging Africa Infrastructure Fund – EUR 25 million and OPEC Fund for International Development - EUR 25 million. Equity contribution by the sponsors amount to EUR 89 million ($99.6 million). Financial closure was achieved on June 22, when the IFC mobilized the funds. https://ijglobal.com/data/transaction/37427/ivato-and-fascene-airports-ppp https://globenewswire.com/news-release/2017/07/05/1039103/0/en/A%C3%A9roports-de-Paris-SA-Ravinala-Airports-the-concession-company-for-the-Antananarivo-and-Nosy-Be-airports-in-Madagascar-finalises-its-funding-arrangements-and-begins-work.html https://www.moodiedavittreport.com/adp-led-consortium-named-preferred-bidder-for-madagascar-airports/ https://disclosures.ifc.org/#/projectDetail/SII/36882