Olam and AFC look to build Lomé-Cinkasse highway

Tuesday, 22 December 2020 15:44
Olam and AFC look to build Lomé-Cinkasse highway

(Togo First) - Through its subsidiary Arise, the Singaporean Olam expressed its intention to build the Lomé-Cinkassé highway in partnership with the Africa Finance Corporation (AFC). This was disclosed last Friday by Togo’s minister of finance, Sani Yaya, in a meeting with the parliament for the adoption of the 2021 budget. 

An MoU of cooperation to conduct related studies and build the highway has already been signed with the Togolese government, Yaya said. The estimated cost for the 700-km road exceeds $600 million (over CFA330 billion). One of the flagship projects of the National Development Plan (PND), it should ensure traffic fluidity, reduce cost and time of travel on the corridor, and subsequently improve the competitiveness of the Autonomous Port of Lomé. 

It should be noted that the AFC, together with Arise, recently started building the Adétikopé Industrial Platform (PIA) for an investment of nearly 140 billion CFA francs.  Two years ago, Togo became the 12th West African country to join the Corporation.

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