NaijaPositive.com

admin · Site Admin Joined: 25 May 2007 Posts: 5404

Airport Concessioning: AGC to Invest $500m

The Punch
Oyetunji Abioye
14 Mar 2008

The Aeroport Gateway Consortium, holders of the concession to operate Nnamdi Azikiwe Airport, Abuja, is to invest $500m in the aviation industry to ensure better service delivery and economic growth. According to a statement obtained by our correspondent on Thursday, the Chief Executive Officer of Airline Services and Logistics, Mr. Richard Akerele, who spoke on behalf of the consortium, said the government’s decision to concession four of the nation’s airport to private operators would improve the sector.

He said, “Nigeria’s economy is growing rapidly and the country requires a strong aviation industry to help support and sustain this growth. “We are ready to invest up to $500m over the life of the concession to ensure that this happens.

Another member of the group, the Chief Executive Officer, ARM Investment Managers, Mr. Deji Alli, said, in partnership with the FCT and Federal Government it intended to make Abuja a major West and Central African transport hub. He said, “Our consortium has deposited $10m in the Nigerian government’s account and we are itching to begin work on this project.

“We are awaiting final signatures and approval from the Federal Government and would urge them to complete this process as fast as possible so that we can implement our plans to dramatically develop the Abuja airport and its surrounding area.”

AGC emerged as the preferred bidders for the Nnamdi Azikiwe Airport concession in November 2006 following a competitive bid process advised by the International Finance Corporation, the private sector arm of the World Bank group.

© Copyright

_________________
May we be strengthened with the ability, willingness and capabilities to be good ambassadors of Nigeria contributing to its uplifting, rather than its detriment. - Cxsm