Launch of new public-private partnership for road toll plazas in Cameroon.
Construction companies EGIS and FAYAT have secured funding in FCFA (CFA franc) for 14 years under a €65m public-private partnership (PPP) contract to establish and operate 14 toll plazas in Cameroon.
Cameroon-based TOLLCAM has signed with the minister of public works and the minister of finance of the Republic of Cameroon the final documents necessary to finance a partnership contract for the construction and operation of 14 toll plazas on Cameroon’s main national roads.
TOLLCAM, a 50/50 subsidiary of RAZEL-BEC and EGIS, will be in charge of the execution of the contract over a period of 20 years. This project will provide the Cameroonian state with modern and secure toll facilities on its national road network.
The works will be carried out by RAZEL-BEC, a subsidiary of the FAYAT group and the operation will be carried out by EGIS on behalf of TOLLCAM. The delivery of the first tolling facilities is scheduled for 2023. The operation and maintenance of the toll facilities will then be carried out by TOLLCAM, while the tariff policy remains the responsibility of the State of Cameroon.
The financing is in local currency (FCFA) over 14 years with a refinancing expected after seven years and guaranteed by the insurer Guarantco. The lending banks are Société Générale Cameroun and Société Commerciale de Banque Cameroun, a subsidiary of Attijariwafa Bank Group.
With the signature of this contract, RAZEL-BEC (FAYAT Group) and EGIS, which together have been operating in Cameroon for more than 120 years, are confirming their longstanding commitment to the development of strategic infrastructures in the country and, more broadly, throughout the African continent.