FRANCO-SPANISH GROUP TO BUILD LOME BOX TERMINAL
CMA CGM and Spains Progasa group have signed an agreement with the government of Togo to build and manage an international container terminal at the port of Lome. The terminal, which will have a 400-metre long quay, will be operated by the local company Societe Investissement de Terminal a Conteneurs (SITC), whose equity will be divided between the French shipping line and Progosa in equal proportions.
First phase investment will require US$100m to develop roads, a 600 metre long quay, a reservoir, a bonded warehouse and upgraded power supply, allowing the facility to open by 2007.
The concession, which will last for 10 years, will require investment of ?45m. Work on the initial construction phase began in early January.
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