| Project Detail |
Disclaimer. Through this Early Disclosure, MIGA provides access, early in the environmental and social assessment process, to the Environmental and Social Impact Assessment (ESIA). The ESIA has been prepared by Société Autoroutière du Gabon and should not be taken as an indication that MIGA has completed its review of the potential investment. The purpose of this Early Disclosure is to enhance the transparency of MIGA’s activities with reference to those projects or investments that are categorized as Category A under MIGA’s Policy on Environmental and Social Sustainability (2013). This document should not be construed as presuming the outcome of the decision by MIGA’s Board of Directors. In addition, prior to any consideration of the investment by MIGAs Board of Directors, the Summary of Proposed Guarantee (SPG) and the Environmental and Social Review Summary (ESRS) would be disclosed at least 60 days in advance. The following Early Disclosure is disclosed in accordance with MIGAs Access to Information Policy (2013).
Project description
This Early Disclosure covers an application by Meridiam (France) for their equity, quasi-equity and shareholder loans investments into Société Autoroutière du Gabon (Gabon) for the rehabilitation, operation, and maintenance of the Transgabonaise road, a key piece of infrastructure in Gabon. The investor has applied for MIGA’s guarantee of up to EUR 67.5 million against the risks of Transfer Restriction, Expropriation, Breach of Contract, and War and Civil Disturbance, for a period of up to 15 years.
The Project consists of the design, development, financing, upkeep, operation, and maintenance of a 93-kilometer section (between 12th kilometer –near Libreville– and 105th kilometer –10 km past Kango) of the Transgabonaise economic route, an important link between the East of the country and its capital Libreville in the West, critical for development of several industries, internal and external trade. Despite its strategic importance, years of neglect caused significant deterioration of many sections of the road which has become a significant issue due to absence of alternative transport links. Renovation and expansion undertaken as a part of the Early Disclosure Project will significantly improve the quality of the road and ensure a smooth and safe flow of traffic on this important pathway.
Ownership of the Project sits with the Fonds Souverain de la République Gabonaise (25%) and Meridiam (75%).
Environmental Categorization
The Project is Category A under MIGA’s Policy on Environmental and Social Sustainability (2013). |
