Airports Company looks at equity partnerships in unnamed overborder states

AIRPORTS COMPANY of South Africa will invest in the upgrading of four airports outside the boundaries of the country, following its appointment of Aeroporti di Roma as its strategic equity partner.
The Italian group is leading a strategy to invest in three airports, as yet unnamed but in the Southern African Development Community, and a fourth in Kilimanjaro in Tanzania.
The investments will be in the form of either management contracts or equity partnerships, and worth more than R30 million, says Dirk Ackerman, m.d. ACSA.
Airports Company has taken over the management of Gateway Airport in Pietersburg and is expanding its activities to other airports in South Africa, he says. At present they operate three international and six national airports.
The company, which has performed well for four consecutive years, revealed a 21% increase in turnover to R710 million in its annual financial report, with a 22% increase
in pretax profit.
According to transport minister Mac Maharaj, the company has contributed R1,3 billion to the government in the past year from the proceeds of its restructuring and taxation. Aeroporti di Roma paid R819 million for its 20% stake in the company and valued it at more than R4 billion.