The deal covers four international airports, namely Praia, Sal, São Vicente and Boa Vista, as well as the three domestic airports of São Nicolau, São Filipe and Maio.
It represents the first concession deal won by VINCI Airports in Africa.
As part of the agreement, VINCI Airports and its Portuguese subsidiary ANA have been tasked with operations, maintenance, funding, expansion and modernisation of the airports for the next 40 years.
VINCI Airports and ANA will have 70% and 30% stakes, respectively, in the new concession company that will operate the airports.
The companies are anticipated to complete the financial provisions for the project next year, when the concession company will become operational.
With the new move, VINCI Airports intends to help Cape Verde’s tourism sector by taking various passenger requirements and island specific deliberations into account.
VINCI Airports noted that Cape Verde’s air traffic has increased by an average of 5.6% annually between 2010 and 2019. The growth was attributed to the country’s economic progress, stable political environment and prosperous tourism industry.
Even after the impact of Covid-19 on the world’s tourism sector, Cape Verde is said to have recorded 80% of 2019 air traffic levels in the second quarter of 2022.
VINCI Airports also intends to execute its environmental action plan, which includes the generation of solar and wind power.
VINCI Concessions CEO and VINCI Airports president Nicolas Notebaert said: “We are very proud to announce this partnership with the Republic of Cape Verde.
“Our shared vision is to boost the country’s tourism industry through a long-term growth strategy. Improving the airports’ links and performance will have a positive impact on the country.
“VINCI Airports is deeply committed to helping the Cape Verde archipelago realise its full potential over the course of this long-term partnership.”
In March, Vinci Airports signed an agreement to offload its 90.1% holding in Stockholm Skavsta Flygplats, which owns Sweden’s Stockholm Skavsta Airport.
In another development, Vinci Airports assumed control of Manaus International Airport (MAO) in Brazil at the beginning of the year.