Transgabonais Railway Rehabilitation

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Transgabonais Railway Rehabilitation project envisages an upgrade of the 650 km line connecting Libreville to Franceville in Gabon. Société d’Exploitation du Transgabonais (SETRAG) is the project company, which will implement the rehabilitation of the Transgabonais railway. SETRAG is wholly - owned subsidiary of Compagnie Miniere de L’Ogooue (Comilog), whose major shareholders and sponsors of the projects are Eramet Group with 63.7 per cent, Government of Gabon with 28.9 per cent, and Formang Holding 7 per cent. SETRAG will be managing the railway under a 30-year concession expiring in 2030. The seven-year upgrade project has a total cost of around $350 million (€315 million) and will be used for the replacement of rail tracks and sleepers, doubling of the line's capacity to 16 trains a day and the acquisition of new rolling stock. The project reached financial close on June, 26 2016. The government of Gabon will provide approximately $100 million grant to this project. In addition to this, IFC will provide some $58 million direct loan which includes its co-lending programme. Finally, Proparco will provide $36 million to this project. http://ifcextapps.ifc.org/ifcext/spiwebsite1.nsf/DocsByUNIDForPrint/D7E74E84C0E7A29485257E4300706D3B?opendocument https://ijglobal.com/data/transaction/33953/transgabonais-railway-rehabilitation-ppp http://ifcextapps.ifc.org/ifcext%5Cpressroom%5Cifcpressroom.nsf%5C0%5C4A4BCFD93358DB9585257FF000465061 Government of Gabong as Sponsor 7% by Formang Holding and 0.4% by other investors.