Madagascar airports are all set for upgrade and expansion with the help of the Emerging Africa Infrastructure Fund (EAIF). The €215 million project is expected to generate employment and developmental changes across the continent. Madagascar, the world’s fourth largest island, is renovating its two international airports at the cost of €215 million ($245 million) with the help of the Emerging Africa Infrastructure Fund (EAIF).
The construction work has already commenced to upgrade the runways, passenger terminal facilities and allied infrastructure of the Ivato international airport in Antananarivo and the Fascene international airport in Nosy Be.
Investec Asset Management (IAM), one of the largest third-party investors in private equity, credit, public equity and sovereign debt across the African continent manages EAIF. EAIF is also member of the Private Infrastructure Development Group (PIDG), which currently receives support from seven governments – including the UK, the Netherlands, Sweden and Switzerland – as well as private sector banks including the German development finance institution, KfW, and its Dutch equivalent, FMO.
The funding issue has already been resolved and the engineers and technicians have already begun their work at Ivato airport in Antananarivo. While Ravinala Airports looks to complete the construction in December 2018, the Ivato airport is expected to go into commercial service in June 2020.
The passenger handling capacities will more than double to an annual capacity of 1.5 million passengers, which could be further extended to 1.8 million. The Ivato airport will host a new 17,500 square meter international terminal, while its existing terminal will be renovated to deal with domestic traffic. The runway would be strengthened and resurfaced, so that it could accommodate wide-bodied aircraft for the first time.
Meanwhile, Fascene airport in Nosy Be, one of the country’s most used tourism airports, has its own improvements in store for its terminal and runway. The airport’s capacity will be able to accommodate 500,000 passengers a year. After the renovations, Ravinala is hoping to promote the airport to airlines and tourism operators worldwide.
In 2016, these two airports welcomed 845,000 and 147,000 passengers respectively, two thirds of which consisted of international passengers. Their expected average annual passenger numbers would rise by at least five percent over the coming years.