Mota-Engil signs 425 million contract in Rwanda

  • ECO News
  • 2 December 2020

The Portuguese construction company communicated to the market regulator a deal to sell a stake that led to the revision of the contracts for the initial work on the new airport in Rwanda.

Mota-Engil sold its 75% stake in Bugesera Airport Company (BAC) to Aviation Travel & Logistics Holding (ATL). Following this deal, the construction company signed an EPC (engineering, procurement and construction) contract with the same company owned by the government of Rwanda for the initial work on the new airport, amounting to 425 million dollars (equivalent to approximately 354 million euros).

“Mota-Engil informs about the signing of a purchase and sale contract of its 75% stake in Bugesera Airport Company (“BAC”) with Aviation Travel & Logistics Holding Ltd. (“ATL”), a government of Rwanda owned company,” the Portuguese company announced in a statement sent to the market regulator.

“Following this transaction and after a long process of technical studies in order to resize the new airport according to the needs of the project, MOTA-ENGIL signed an Amended & Restated EPC contract with BAC for the initial works for the new airport, that amount to 425 million dollars,” it added.

In 2016, Mota-Engil signed an agreement for the financing, construction, operation and maintenance of the new Bugusera International Airport in Kigali, for a period of 25 years, extendable for a further 15 years, foreseeing an initial investment of 418 million dollars (about 375 million euros). Construction of the Bugusera International Airport in the Rwandan capital began in August 2017 and was one of President Paul Kagame’s emblematic projects.