…As Thales Secures €30.6 Loan Facility From Bank
The Minister of Aviation and Aerospace Development, Festus Keyamo said it has commenced talks with Thales of France, a global air surveillance radar provider.
This was disclosed in a statement signed by the
SA Media to the Minister, Tunde Moshood.
Moshood said that Thales of France has a rich history dating back to its establishment in the Netherlands in 1938 and that it has played a pivotal role in radar system installations globally, integrating its services into France in the early 50s and in Germany in 1963.
Thales, he said has been instrumental in radar installations for major international airports such as the London Heathrow and Charles de Gaulle among others.
The Minister , who is currently on a working visit to France, the SA said is accompanied by his team, including aviation expert Layi Are.
According to a statement , Keyamo plan is to initiate a comprehensive upgrade to the radar system of the Nigerian aviation industry.
He said that the ministerial delegation traveled to Rouen-Ymare, Thales’ headquarters, located two hours away from the French capital, to inspect and understand the functionality of the latest radar equipment.
“I have taken my time to come all the way because I want the best equipment for my country. I want the Nigerian aviation sector to compete favorably in terms of the installation of the latest equipment. That’s why I am here to take a tour and see the latest radar equipment in town,” the Minister said
The Vice President of Thales in charge of Civil Radars Segment, Lionel DE Castellane, who warmly welcomed the Minister and guided him through the inspection of facilities, highlighted the urgent need for the upgrade of TRACON airport facilities, especially at major airports such as Lagos, Abuja, Kano, Enugu, and Port-Harcourt.
Castellane, who drew the attention of the Minister to the ongoing TRACON project in Nigeria initiated 18 years ago, emphasising the need for urgent modernisation.
Castellane informed the Minister and his team that phase 1 of the TRACON project, initially signed with the Nigerian Airspace Management Agency (NAMA) in 2022, is 80 per cent completed and scheduled for completion in May 2024.
He disclosed that discussions on financing arrangements for the second and third phases are underway.
Recognising the financial magnitude of the project, Thales has secured a loan facility of €30.6 million from Commerzbank Group, a German financial institution, with the French Guarantee Agency providing backup support, “we’re only waiting for the Nigerian government to give us the nod to formalise the financing arrangements, even as we speak, the Commerzbank director here in France is a call away anytime, she’s ready to travel to Nigeria for the formalities”, Costallane said.
The statement by Moshood said that following an extensive and insightful presentation, the Minister was presented with a beautiful radar system model as a token of appreciation for his visit.
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