Israeli based construction and infrastructure company Shikun & Binui Ltd has secured a new contract to build an airport in Uganda.
The project will be located in a rural area of the oil-drilling region near Hoima and Lake Albert in northwestern Uganda. According to the contract, SBI, Shikun & Binui’s international construction arm, will construct the airport to support the development of the region’s oil industry.
The construction phase of the project is expected to last for three years, with the total paid to SBI over the course of the work estimated at approximately $309 million. The project will be financed by the British government (UKEF) and a commercial bank.
The components of the project include the paving of 3.5 kilometers of runways, the carrying out of earthwork and drainage activities, the pouring of asphalt and cement, the building of electro-mechanical, communications and navigation systems, and the erection of a cargo terminal, an air traffic control tower and additional residential and service structures.
To the best of the Company’s knowledge, the Ugandan government intends in the future to use the facility as the country’s second international airport.