(Getty Images/Thierry Monasse)

Ethiopian Airlines has signed a contract to plan a new $6 billion (R112.4 billion) airport that will be Africa’s largest, state media reported.

The new hub will be able to handle 100 million passengers a year once it is completed in five years, Mesfin Tasew, CEO of Ethiopian Airlines, was quoted as saying at a press conference on Friday.

He said Ethiopian Airlines had signed a memorandum of understanding (MoU) with Dubai-based consultancy Dar to develop the design for the airport, which will have four runways.

It will be built in Bishoftu, about 40 kilometers southeast of the capital Addis Ababa, and will cover 35 square kilometers, he said.

“The first phase includes the construction of the airport facility with a capacity of 60 million passengers per year and with the completion of the second phase of the airport project, more than 100 million passengers per year will be handled,” Mesfin said, according to the state-run Fana Broadcasting Corporate.

Dar’s operations manager Tariq Al-Qanni, who attended the press conference, said it will be the largest airport in Africa once completed, Fana reported.

“The scope of the agreement is for Dar to develop the detailed design of the new airport while assisting Ethiopian Airlines in the selection of contractors who will build the new airport facilities,” Mesfin added.

Ethiopian Airlines is Africa’s largest airline and last month reported revenue of $7 billion for the 2023/24 fiscal year, carrying 17.1 million passengers.

Bole International Airport in Addis Ababa, currently the airline’s hub, has a maximum capacity of 25 million passengers per year.