EGIS and Fayat are establishing a PPP partnership in Cameroon.
The Fayat Group and EGIS have set up a partnership to build and manage tolling facilities in Cameroon – image courtesy of © Paulklee1879, Dreamstime.com
EGIS and FAYAT have set up a partnership to operate road toll plazas under the PPP model in Cameroon. The €65 million deal will be for 14 toll plazas and will be handled by TOLLCAM, a 50/50 partnership between Fayat’s RAZEL-BEC business and EGIS.
Executives from TOLLCAM signed the deal with officials from Cameroon’s Ministry of Public Works and the Ministry of Finance. The 14 toll plazas will be built and operated on key national roads in Cameroon. The contract is for a 20 year period.
According to the partners, 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 year 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 7 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.
