Expansion of the Bole International Airport in Ethiopia, which was scheduled to cost US$ 225m will now be constructed at a cost of US$ 340m. This comes after further evaluation and studies were done on the airport construction project. Construction started last year June.
The contractors, China Communications Construction Company (CCCC) plan to carry out the expansion in two phases and once the airport is complete, it will eventually have ability to handle a maximum number of 20 million travelers annually in time duration of 15 to 20 years.
Part of the finances for the airport construction project will come from a loan to be provided by Export Import Bank of China (Chinese ExIm Bank), which agreed to assist with only US$ 225m. The design work for the expansion project was done by CPG Corporation Pte. Ltd, which is based in Singapore.
“Although the additional costs of the construction is known, the source of the financing has not yet been determined and the Enterprise will request the Ministry of Finance and Economic Development (MoFED) to look for the finance,” stated Tewodros Dawit, Chief Executive Officer (CEO) of Ethiopian Airports Enterprise (EAE).
The development that is being done by CCCC will entail extension of the existing Terminal 1 (domestic and regional terminal) and Terminal 2 (international terminal) with the relevant kinds of equipment. The new modernized terminal will have boarding gates, boarding bridges, and a new parking area for passengers, airport staff and a new VIP passenger terminal.
Addis Ababa Bole International Airport is located in the Bole area, 6 km east of the city centre and is main hub of Ethiopian Airlines. Currently it serves 14 million passengers annually.