Finance

Bolloré, Geftarail and Petrolin competing over Niaymey-Cotonou railway project

Wednesday, 01 June 2016 17:10

In a statement released on May 31, 2016 and signed by Mohamed Moussa, adviser to the prime minister in charge of public-private partnerships, Niger’s authorities reaffirmed their strategic commitment with the French group Bolloré, for the Niamey-Cotonou railway project.

According to Bloomberg citing Mr. Moussa, awarding this concession to Bolloré, which is currently managing various sea and dry ports as well as railway projects (Cameroon, Cote d’Ivoire) in Africa, prevents in no way Geftarail, another French firm, to develop the railway project it has been awarded since the two projects do not cover the same perimeter. “If Geftarail wants to build its railway, it should do so. Its presence does not clash with Bolloré’s,” he said.

In November 2015, Geftarail reached out to the international arbitration court of Paris, demanding for works undertaken by Bolloré to be stopped, as they violated the license it got in 1999. However, the group suspended the prosecution in exchange for Niger agreeing to get from Benin to also endorse the 1999 agreement which allows it to build a railway that connects Burkina-Faso, Benin and Niger.

There is also the Benin-based group Petrolin that got from the Court of Appeal of Cotonou to agree that works undertaken by Bollore Africa Logistics and actions of the Beninese State violate its rights. The court then ordered for these works which were carried out at the OCBN site in Cotonou to be halted, or both entities would pay a fine of FCFA100 million each day they would not comply.

On the field, Bolloré seem to have progressed most. It has already completed close to 140 km of railroad. In contrast, Geftarail since it has obtained its license in 1999 has been struggling to mobilize the $11 billion it needs to finance the project. However, some Chinese investors have been announced on this project. Petrolin for its part remains serene as the court has already given its decision.

Idriss Linge

On the same topic
Kenya signs supplementary budget raising spending to 4.69 trillion shillings Funds target security, education, housing, agriculture, health...
Gabon considers agency to strengthen asset recovery efforts Proposal targets illicit financial flows, financial crime enforcement Plan...
Zimbabwe launches new “BiG5 ZiG” banknotes to boost confidence Rollout starts with lower denominations, higher notes to follow Move supports...
Nigerian bank completes full acquisition of Paramount Bank Kenya Deal marks Zenith’s entry into Kenya and broader East African...
Most Read
01

Flutterwave secures Nigerian banking license to offer credit and savings License enables direct d...

Flutterwave Secures Banking License in Nigeria, Joining Push by Fintechs Like Revolut, Wise
02

BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...

BCEAO Imposes June 30 Deadline to Complete Instant Payments Integration
03

EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...

EBID Charts Green Shift to Finance West Africa’s Growth
04

This week, Africa’s health outlook is shaped by mounting supply chain risks tied to global tensions,...

Weekly Health Update | Africa Faces Health Supply Risks; DRC Ends Mpox Emergency
05

Coca-Cola will invest $1.03 billion in South Africa by 2030 to expand capacity and distributi...

Coca-Cola Plans $1 Billion Investment in South Africa After Nigeria Push
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.