Ghana seeks $741.2m investment to develop five airports

An estimated amount of $741.2 million is needed from both public and private sector to develop all five of Ghana’s airports as passenger and aircraft movements grow steadily, according to a document prepared by the Ghana Airports Company Limited (GACL) seen by ghanabusinessnews.com.

The document, which gave a capital investment programme for all the airports, indicated that the Kotoka International Airport will require an amount of $405 million, the Tamale Airport will need $173.2 million while the development cost of the Kumasi Airport will be $64 million.

Both the Takoradi and Sunyani Airports need $63.5 million and $35.5 investment requirements for development, the document noted.

The GACL projects annual total aircraft movements to rise from 28,063 in 2010 to 36,510 in the year 2013 while passenger growth is expected to rise from 1,428,424 in 2010 to 1,710,884 in 2013.

The company says there is currently a high demand for increase of flight frequencies by the thirty three (33) scheduled airlines servicing the airport.

This can be attributed to the commencement of oil production in Ghana and also due to the democratic and good governance credentials of the country, it added.

By Ekow Quandzie