Ivato International Airport in Madagascar opens its US$225m terminal

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Following more than €200m (US$225m) of investment, Ivato International Airport in Madagascar has opened its 17,500m2  terminal, which is expected to enable smoother airport traffic and increase its capacity to 1.5 million passengers per year.

With its new terminal, the airport plans to reduce its waiting times and increase flight capacity, through additional counters and weekly passenger services. The new international terminal has also received health accreditation from Airports Council International (ACI) and plans to contribute to the UN Sustainable Development Goals.

The architecture of the terminal will showcase of Malagasy flora and culture, serving Madagascar’s economic and tourism development. In doing so, the opened terminal is expected to create more than 300 new jobs in addition to the more than 1,000 direct and indirect local jobs already created.

The official opening of the new terminal at Ivato International took place the day after the new concession agreement was signed between the Malagasy authorities. Before the health crisis began, tourism contributed 16% of the country’s GDP and provided employment for more than 800,000 people (3% of the population). The concession contract has therefore been the subject of an amendment between the various parties. As part of this agreement, global investor and asset manager Meridiam will contribute and share its expertise in addition to the investments of more than €200m (US$225m) made during the construction phase. The agreement between the government and the members of the consortium provides for a significant upward revaluation of the fiscal benefits for the State to nearly €400m (US$450m) over the duration of the concession.

Thierry Déau, founder and CEO of Meridiam, said, “With this new international terminal, Madagascar will have a state-of-the-art infrastructure that meets the best international airport standards. It is also a pleasant living environment, a showcase for Malagasy flora and culture. At the service of economic development, it will assist the effective recovery of the tourist activity on the island.”

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