President John Dramani Mahama says government is
working assiduously to get a new national airline established on a
Public-Private-Partnership basis soon, after a successful prefeasibility study.
“Government’s plan to set up a new
national airline under a PPP arrangement to support the policy-objective of
establishing Kotoka International Airport (KIA) as an aviation hub is also
on-going. It is my expectation, therefore, that Terminal 3 will play a pivotal
role to support the operations of this new airline,” President Mahama said.
He was speaking at the sod-cutting
ceremony to commence construction of a new terminal to be known as Terminal 3
(T3) at the KIA.
The process to establish a new national
airline -- after the collapse of state-owned Ghana Airways -- started in
earnest in 2014, and was financed using part of a US$30million PPP programme
facility from the World Bank.
The Ministry of Transport after a
tender process selected PwC -- an international consulting firm -- as the
transaction advisor for establishing the new national carrier.
PwC has undertaken various business
studies to determine the viability and ownership structure, developing various
models and evaluating bids for establishing the new flag-carrier. It has since submitted its report to the ministry.
However, the World Bank in July 2015
withdrew its financial support for government’s initiative to establish a new
national airline, following a review of the pre-feasibility report prepared by
PwC and submitted to the supervising ministry for perusal.
An
initial pre-feasibility report submitted to the World Bank for review and
approval -- otherwise termed “no objection” -- came back with a decision not to
continue funding the process, as the model contained in the report seem more
commercial than a PPP arrangement.
Government, however, is keen on going
forward with the project in order to tap into the aviation sector’s growth in
the country.
The new terminal, to be known as Terminal
3 (T3), is estimated to cost US$250million and be fully-funded by a loan
secured from a syndicate of banks led by Ecobank Capital on the strength of
GACL’s balance sheet.
The T3 project, according to the GACL, will
provide a catalyst for attracting an increasing number of air carriers and
passengers to Kotoka International Airport as an origin/destination airport, as
well as a transfer hub for other West African destinations.
The new terminal 3 fits into the corporate
vision of GACL, and falls in line with government efforts to transform the
aviation industry in Ghana.
Some of the outstanding features include
capacity to handle 5million passengers a year, process 1,250 passengers per
hour, six boarding bridges, large commercial & retail area, and three
business lounges
“With the completion of T3, KIA will be
the most attractive aviation destination in West Africa.
Accra is already a preferred
hub for many airlines. There is increasing interest from other airlines to base
their hubs at KIA. Turkish Airways is already flying daily from Ankara to
Accra. They intend to double this to 14 flight a week. I believe this will
enhance business relations between our two countries.
“The project contractor, MAPA, has already
mobilised to the site, and I urge them to execute the project with precision
and be on time. I wish to caution against delays and the attendant cost over-runs,”
President Mahama said.
Terminal 3 is expected to be completed in
July 2017. Source:B&FT
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