ACZ seeks US$100m for hotels, airport malls
THE Airport Company of Zimbabwe (ACZ) is seeking approximately US$100 million from investors to fund projects across the country’s airports, including development of a hotel at the Robert Gabriel Mugabe International Airport.
In its drive to woo investment needed to modernise and upgrade its airports, in line with global trends, ACZ is currently exhibiting at the Intra-African Trade Fair (IATF) 2021, currently underway in Durban, South Africa.
IATF 2021 is hosting key stakeholders from the world of trade, including entrepreneurs, financiers, governments, and regulators, on one platform to deliberate on trade acceleration and investment throughout the African continent.
Over 10 000 participants from across Africa are attending the continental trade fair with US$40 billion of trade and investment deals expected to be concluded at the event.
ACZ is, among other things, looking to highlight and attract funding for several commercial business opportunities available across the country’s airports.
ACZ was created this year after the unbundling of the Civil Aviation Authority of Zimbabwe into an airports company that manages, establishes and acquires airports.
It was formed through the Civil Aviation Amendment Act, 2018 (No.10 of 2018).
It is with this mandate, that ACZ has already lined up a number of projects meant to modernise and upgrade the country’s airports.
Observers say modern airports play a vital role in the tourism sector, as already being witnessed at Victoria Falls International Airport.
While the RGM International Airport upgrade is already underway, ACZ plans to develop a cargo terminal to be constructed on 40 000sqm2, according to a brochure shared by company officials at the company’s IATF stand at the Zimbabwe pavilion.
Officials manning the stand are, however, not authorised to speak to the press and could not comment further although the brochure is detailed.
The preferred investment model for the cargo terminal is a Built Operate and Transfer (BOT) one at an estimated cost of US$20 million. A five-storey, 150-roomed Airport Hotel is planned on an area covering 10 000 sqm2. The hotel is also expected to have a golf course, an aquarium and a conference facility that can accommodate 200 people.
A smaller, three-storey, 50-roomed Airport Transit Hotel at an estimated cost of US$8 million is also planned on a BOT investment model. Planned at RGM International Airport are two dry ports, on 40 000sqm2 each at an estimated cost of US$5 million and US$8 million each.
One of the dry ports would be for a bonded warehouse and a diplomatic duty free shop constructed through a BOT investment model.
The other dry port would be to complement existing capacity and aviation fuel storage facilities on an US$8 million concession investment model.
Another project is the development business park on a BOT investment model worth US$5 million.
Interestingly a pharmaceutical manufacturing plant worth an estimated cost of US$8 million as well as a solar farm are planned for development at RGM International Airport.
At Victoria Falls International Airport, plans are to develop an uplift catering facility at an estimated cost of US$10 million as well as an Airport Hotel at an estimated cost of US$15 million.
A smaller, three-storey, 50-roomed Airport Transit Hotel at an estimated cost of US$8 million is planned on a BOT investment model.
The planned development will certainly improve passenger circulation.
“The net effect will be improved customer satisfaction and passenger experience, thus creating a positive lasting impression on travellers, who will act as ambassadors of the country by spreading the word,” according to Lovemore Chikova in his Development Dialogue Column in The Herald on July 16, 2021.