Gabon rail network to get €52.5m boost from IFC
The International Finance Corporation (IFC) is providing €52.5-million of debt financing to boost the capacity and improve the efficiency of Gabon’s rail network and improve the Central African country’s trade and transport links.
The financing was awarded to Société d¹Exploitation du Transgabonais (Setrag), which had been the concessionaire of the 650 km Transgabonais rail line between Franceville and Libreville, since 2005.
The Transgabonais served Gabon’s main central economic corridor and helped connect the country¹s landlocked iron-ore and manganese mines to international markets. Setrag would use the funds to increase the railway’s transport capacity while also improving its reliability.
“We are pleased to have provided both advisory services and financing for the rehabilitation of the Transgabonais. This project will support efficient transport solutions by private sector operators for mining companies and general freight shippers, thus facilitating industrial investment and economic growth in Gabon, IFC West and Central regional director Vera Songwe said.
Setrag MD Patrick Claes said the organisation was very appreciative of the support provided by IFC during the advisory and financing phases of this transaction. “IFC’s unparalleled expertise in transport in sub-Saharan Africa and IFC’s ability to play an honest broker role during negotiations of the amended concession contract with Gabon government have been of great added value for Setrag.”
The IFC-arranged financing includes a €35-million loan for IFC’s account, €17.5-million from IFC’s managed co-lending portfolio programme, and a €32.5-million parallel loan from Proparco, the private sector financing arm of the French Development Agency.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...
VISIT SHOWROOM
AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
