GTST AESA WAF20

completed

 The proposed IFC investment would be a 3-year funded participation in a committed, secured, revolving syndicated borrowing base trade finance facility (“Facility”)  in favor of Addax Energy S.A. (“Addax” or “AESA” or the “company”), an existing IFC client. The Facility will be renewed annually (the “project”). The Facility will facilitate the import of critical energy products to West Africa. It will finance the import, storage of products in Benin, Côte d’Ivoire, Senegal, Burkina Faso and Sierra Leone, and the sales to importers and Addax subsidiaries in these four countries and other African countries primarily in IDA such as Burkina Faso, Guinea, Gambia and Niger. Addax is the trading arm of Oryx Energies SA (Oryx), a Swiss company, majority-owned by private investment group. The main operations of this trading project consist of unloading, storage, and loading of energy products at storage terminals in the abovementioned four West African countries. Oryx owns storage terminals in Benin, Senegal, and Sierra Leone. Storage tanks in Côte d’Ivoire for this project are located inside a partner company’s terminal, which is adjacent Oryx’s own facility.  All terminals are served by networks of pipelines linking the storage tanks to the jetties. The storage capacities are approximately 63,000, 5,000, 49,000, and 66,000 m3 at terminals in Benin, Côte d’Ivoire, Senegal, and Sierra Leone, respectively. All terminals are located inside port/industry zones and there is no residential community near any storage terminals. The environmental and social (E&S) risks and impacts for the terminals and associated infrastructure will be managed by Oryx and the partner company at the terminal in Côte d’Ivoire.