Ivato International Airport in Madagascar has unveiled a new terminal following a new concession agreement signed between the Malagasy authorities. The new terminal has been built as part of a public-private partnership (PPP) venture. The commissioning of the terminal is a strong signal for the tourism sector and demonstrates Paris-based global investor and asset manager Meridiam’s commitment to support the Madagascar government’s actions for a sustained economic recovery. This project contributes concretely to the U.N. Sustainable Development Goals.
This modernization is part of the government’s strategy to revive the economy and accelerate tourism activity on the island. Before the health crisis began, tourism contributed 16 percent of the country’s GDP and provided employment for over 800,000 people (3 percent of the population). The new facilities are expected to improve the user experience and allow the airport to welcome more than 1.5 million passengers per year, compared to 850,000 in 2016.
The concession contract, which provides for a 28-year operating period, has been the subject of an amendment between the various parties. 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 €400 million over the duration of the concession.
With its international experience in the management of sustainable mobility infrastructures, Meridiam will contribute and share its expertise in addition to the investments of over €200 million made during the construction phase.
The commissioning of the new 188,368-square-foot terminal will allow for smoother airport traffic and the welcoming of new international airlines to Madagascar, besides allowing it to increase the number of weekly services. Waiting time will be considerably reduced thanks to the presence of multiple new counters, thereby facilitating transit formalities at Ivato. The new international terminal has also received health accreditation from the Airport Council International (ACI).
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