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Through its subsidiary Arise Infrastructure Services, 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.
Olam’s infrastructure and logistics business operates under 3 verticals – ARISE Port and Logistics, ARISE Integrated Industrial Platform and ARISE Infrastructure Services. It is a joint venture with the Africa Finance Corporation and other strategic partners at the individual asset level, including Meridiam, STOA and the Gabonese Republic.