What's Happening?
Ethiopian Airlines has commenced the construction of a $12.5 billion airport in Bishoftu, located approximately 45 kilometers southeast of Addis Ababa. This project is set to become Africa's largest aviation infrastructure endeavor. The Bishoftu International
Airport, designed with four runways, is expected to accommodate up to 270 aircraft and handle 110 million passengers annually upon its completion in 2030. The project, initially estimated at $10 billion, has seen its budget revised to $12.5 billion. Funding for the project is being coordinated by the African Development Bank, which has committed $500 million and is working to secure an additional $8.7 billion from financiers in the Middle East, Europe, China, and the United States.
Why It's Important?
The development of the Bishoftu International Airport is a significant milestone for Africa's aviation sector, potentially positioning Ethiopia as a central hub for air travel on the continent. This project is expected to boost the region's economic growth by enhancing connectivity and facilitating increased passenger and cargo traffic. The airport's capacity to handle 110 million passengers annually will significantly surpass the current main airport's capacity, which is nearing saturation. This expansion aligns with Ethiopian Airlines' strategy to expand its network and increase its market share in the global aviation industry. The involvement of international financiers underscores the project's potential to attract global investment and foster economic partnerships.
