Business

Delta State, FIDC-Menzies sign 30-year Asaba airport concession pact

*Firm to pay state N100m annual royalty

*Gets five years tax exemption

The Delta State government has entered into a 30-year concession agreement with FIDC-Menzies, the Mater concessionaire’s Special Purpose Vehicle (SPV) which has been incorporated with the name, Asaba Airport Company Limited to manage the Asaba International Airport.

 

The airport prides itself as the first privatized aerodrome in Nigeria and coming at a time there is a deafening clamour for private sector intervention in airports and terminal operations.

 

The mandate of the major concessionaire is to grow traffic and economic prosperity of the state by taking advantage of the proximity of Asaba to the Eastern commercial hub of Onitsha and Nnewi both in Anambra State.

 

Other sub concessionaires of the aerodrome are Air Peace as the anchor airline and had indicated plans to build a Maintenance Repair Overhaul (MRO) facility;

 

Multifreight Cargo and Logistics which will provide cargo and logistics services, Arbico Construction Company which intends to develop the business park, hotel and convention centre.

 

Rainoil Limited and Cybernectics Limited are to develop the tank farm and provide aviation fuel while Quorum Aviation Limited is poised to develop and manage the private jet and helicopter terminal.

 

The concession stipulates that the concessionaire would pay the state government N100 million royalty every year for the 30 years of the concession pact.

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