Tuesday, February 19, 2013

■ GHANA: China Airports Construction Corporation set to begin work on Accra's new international airport.

China Airports Construction CorporationFollowing the signing of a Memorandum of Understanding with the Ghanaian government last year, China Airports Construction Corporation (CACC) is set to begin construction of Accra's new International Airport, to be situated near Prampram in Dangbe-East District, near Accra. The move comes after CACC successfully concluded a feasibility study for the conceptual design for the new airport.

With 16'000 acres of land now allocated, construction is to begin once a new Airport Bill, now in its draft phase, has been approved by parliament. 

While the new airport will alleviate any further congestion problems dogging Accra's current international airport, Kotoka, the Ghana Airports Company Limited (GACL) has stated that it will proceed with its ongoing rehabilitation of Kotoka, slated to see a massive 5.3million passengers this year, up almost 250% on 2011.

According to the Master Plan for KIA, the expansion of the International Terminal Building will meet growth expectations up to the year 2025 but carries an estimated total cost price tag of USD405 million.

Kotoka International Airport's overall capital expenditure
Kotoka International Airport's overall capital expenditure (GCAA)
The collateralization of both the Ghanaian Civil Aviation Authority's (GCAA) and the GACL's revenues was used to obtain a credit facility from French bank, BNP Paribas and syndicating Banks, though owing to the magnitude of the development, Transport minister Alhaji Collins Dauda says Ghana has had to enter into talks with the World Bank over possible funding.