VINCI Assumes Operations Of Seven Airports In Cape Verde

The firm has completed the financial arrangements for the concession.

By Liz Bains on
27th July 2023

France’s VINCI Airports has taken over the operation of seven airports in Cape Verde after completing the financial arrangements of a concession agreement signed in July 2022.

The firm will fund, operate, maintain, extend and modernise the seven airports over the next 40 years, alongside its Portuguese subsidiary Ana Aeroportos de Portugal, which holds the other 30% in the concession company, Cape Verde Airports.

VINCI Airports secured €60 million (US$66.6 million) in sustainability-linked financing, maturing over 20 years, from three development banks: the World Bank-IFC, France’s Proparco and the German Investment Corporation DEG.

The sustainability targets include a progressive reduction of carbon emissions.

The concession covers four international airports (Praia, Sal, São Vicente and Boa Vista) and three domestic airports (São Nicolau, São Filipe and Maio). Cape Verde’s airports welcomed a combined 2.2 million passengers in 2022. 

It is the first concession secured by VINCI Airports in Africa.

Portuguese law firm PLMJ advised the government throughout the concession process. It said the concession represents a cash inflow of €900 million for the Cape Verdean state.

Photo: Airport (Source: @VINCIAirports Twitter)

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