Orrick advised Africa50 and Aéroports de Paris on a 25-year concession agreement for the development and financing of the modernization, extension and operation of Gbessia International Airport in Conakry, Republic of Guinea. The concession, signed on February 17, 2020, will double the airport's capacity to provide for up to a million passengers per year by 2031.
The project involves the construction and operation of a new domestic and international terminal, as well as a new cargo terminal and an aircraft parking area. The project also includes the renovation and extension of the runway and main taxiways. The first phase, representing an investment of almost €120 million, is due to start this year.
The concession agreement follows the signing of a shareholders' agreement through which the partners took a stake in the new entity that will carry out the project, the Société de Gestion de l’Aéroport de Gbessia (SOGEAG). SOGEAG’s share capital is divided between the Republic of Guinea (34%), Africa50 (33%) and ADP Group (33%).