A number of businesses based in Sweden have expressed interest in getting involved in the USD 10 billion airport megaproject that Ethiopian government officials and Ethiopian Airlines executives foresee serving 100 million passengers annually by 2040.

The airport, set to be constructed near Bishoftu, 40 kilometers south of Addis Ababa, was a central topic of discussion during the Ethio-Sweden Business Event organized by the Swedish embassy this week.

Madeleine Martinelle, head of the Swedish Trade and Investment Council’s Kenya office, told The Reporter that five Swedish firms have expressed interest in joining the project and that she expects more to follow.

The firms that have already shown their interest are primarily engaged in construction, mechanical repair, and air traffic control, according to Martinelle. However, she says these businesses need to learn more about the project details and their potential roles before committing to the work.

“Although the businesses have expressed interest, they will need time to review financial and other details before moving on to the next step,” said Martinelle.

Also in attendance during Wednesday’s forum opening at the Sheraton Addis hotel was Swedish Ambassador to Ethiopia Magnus Lennartsson, who also highlighted the growing interest and spoke about Sweden’s century-long business ties with Ethiopia and the contributions of the Scandinavian nation’s large Ethiopian diaspora community.

Construction on the airport, slated to replace Addis Ababa’s Bole International as Ethiopian Airlines’ operational hub, has yet to begin.

In August, Prime Minister Abiy Ahmed (PhD) and the then African Development Bank (AfDB) president Akinwumi Adesina signed a formal financing agreement that put AfDB in charge of efforts to raise close to USD eight billion in financing to back the megaproject.

The Ethiopian Airlines Group is expected to provide 20 percent of the expected USD 10 billion cost, while officials are hoping lenders will cover the remaining 80 percent.

That month, a report from the Ministry of Finance estimated the cost of resettling the residents of Abusera, the site where the airport is set to be erected, at upwards of USD 350 million.