Mott MacDonald is acting as the lenders’ technical advisor on the scheme.
The concession includes a new 17,500sqm international terminal at Ivato International Airport in Antananarivo, which will have an initial capacity of 1.5 million passengers per annum.
The airport’s existing terminal will also be renovated to handle increased domestic traffic, while the runway will be strengthened and resurfaced.
Meanwhile, the runway and existing terminal building at Fascene Airport in Nosy Bé will be refurbished to support additional passenger numbers.
Mott MacDonald provided technical, environmental and social due diligence during the scheme’s financing stage, including developing a capital investment plan and undertaking environmental assessments.
The consultancy also delivered the key contracts which helped form the structure of the transfer of risks and contingency measures. It is currently monitoring construction in an ongoing role.
Adria Canals-Macia, Mott MacDonald’s project director, said: “This concession is a major opportunity for the Malagasy government to foster economic growth in the country, particularly by supporting a growing tourism industry.”
Construction works at Ivato Airport and Fascene Airport are expected to be completed in early 2020 and form part of a 28-year concession period.
Groupe ADP subsidiary, ADP Management, has a 35% stake in Ravinala Airports, which holds the concession for the Antananarivo and Nosy Bé located gateways.
The other stakeholders are Bouygues Bâtiment International, Colas and Meridiam Africa.
Ivato and Fascene welcomed 45,000 and 147,000 passengers respectively in 2016, almost two thirds of whom were international passengers.
Passenger numbers are expected to grow by an average of 5% per annum for the foreseeable future.