Rwanda has signed a major deal with a Portuguese investor to begin construction of Bugesera International Airport (BIA) project at a tune of $818 million.
According to a government statement released on 1 September 2016, the deal is a joint venture between the government of Rwanda acting through Aviation Travel Logistics Holdings Limited (ATL) signed with Mota-Engil, Engenharia e Construção África, S.A.
The project has so far $418 million of initial investment and is scheduled for completion by December 2018 in its first phase, which will deliver a facility with a capacity to receive 1.7 million passengers every year.
Upon completion of this phase, extension works will be undertaken, to upgrade the capacity to 4.5 million passengers annually. The extension will require additional $ 400 million, bringing the total cost of the project to $818 million.
The agreement comprises of financing construction and operation of the airport project over a period of 25years with an optional 15 years extension.
Finance Minister Claver Gatete and James Musoni Minister of Infrastructure represented the government at the signing ceremony.