Dakar, May 14, 2009 - With promises of a liberal economy, new investment code, free export company status, operate as well as transfer incentives, Senegal in conjunction with the African Development Bank, on Thursday, May 14, in Dakar, hosted an investment forum to woo investors to the country.
During the forum held on the sideline of the AfDB’s 2009 Annual Meetings, the Senegalese government urged investors to partner with it in its quest to make Senegal the sub-regional hub in the transportation sector.
The three projects on offer were the new international airport, sea port and a toll highway.
The new international airport in Diass, about 47 km from Dakar, will replace the Leopold Sedar Senghor International Airport.
“The new airport will help ease congestion in the city of Dakar and facilitate an enhanced country planning along with the creation of an additional economic development centre in Diamniadio and the integrated special economic zone,’’ Aminata Niane, Director General of APIX S.A., promoters of the project, told investors at a special investors forum on Thursday in Dakar.
The new airport, according to Niane, will turn Senegal into a top-notch sub-regional air transportation hub, while meeting the latest international standards in terms of safety, security and quality of service.
The phase One realization costs stands at 350 million Euros, representing about 230 billion CFA francs, and the disbursement of the first tranche of 100 million Euros is underway.
The Senegalese government is providing 45% of the capital requirement of the project while 55% will be provided by private investors and the project is due for delivery in the fourth quarter of 2010.
On the Dakar – Diamniadio toll Highway, Niane said that the project was in four components, comprising a 36 km road plus major fly-over bridges, clearance of the right of ways, involving 3,000 houses between Pikine and Keur Massar, construction of a re-housing site in Keur Massar – Tivaouane Peulh of about 2000 houses, and the urban restructuring of the Pikine district .
The road project, which is part of the basic infrastructure upgrading policy of the Senegalese government, will ensure rapid movement of people and goods inside and outside of Dakar, and resolve the recurrent congestion problems through the development of the offer for a strategic road of the Grand Dakar area.
The road project is also aimed at opening a highway connection in the corridor linking the five main economic centers and promoting the urban and rural development policy. It is also expected to contribute to economic integration at the sub-regional Dakar-Bamako corridor.
The project has the overall budget of 320 billion CFA francs and the Senegalese is funding the the phase 1 of the project to the tune of 85 billion CFA francs, while a private/Public partnership is envisaged for the phase 11 of the project.
“As far as public funding is concerned, the partners targeted are the World Bank, the French Development Agency and the AfDB,” Niane said.
Investors are also needed for the second phase of the Dakar Seaport, Port Dufur. The Seaport was concessioned to DP World Dakar in 2007 and the contract became operational in 2008.
Speaking after the presentation of the three projects to investors, Hela Cheikhrouhou, AfDB’s Infrastructure Finance Division manager, urged investors to partner with the Senegalese government in the execution of these projects since there are viable projects.