Success Story - Somalia Airport
Publication Date:
May 16, 2019
Sector:
The Federal Government of Somalia entered into an amended and restated Concession Agreement on the Management and Upgrade of the Aden Abdulle International Airport, Mogadishu with the private sector operator, Favori LLC on 16 May 2019. The international law firm of Latham and Watkins LLP and aviation sector specialists, Mott Macdonald were engaged to provide the federal government of Somalia with specialist legal advice and technical support during the renegotiation process. The revised agreement represents a considerable improvement over the initial concession agreement signed with the Contractor and marks a significant step towards best practice on concession contracts.
Key improvements captured in the revised agreement include:
- Revenue Transparency
- Clear Commercial Basis
- Investment Plan
- Operating Requirements
- Regulated Charges
- Taxation
- Monitoring and Reporting
- Capacity Building Training
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