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ICBC provides loan for San Pedro Port Extension Project
| Funder | Industrial and Commercial Bank of China (ICBC) |
|---|---|
| Recipient Organization | Terminal Industriel Polyvalent de San Pedro S.A (TIPSP) |
| Country | Cote d'Ivoire |
| Start Date | Jan 01, 2017 |
| End Date | Sep 13, 2033 |
| Duration | 6,099 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 92207 |
Grant Description
ICBC provides loan for San Pedro Port Extension Project On November 2, 2016, Terminal Industriel Polyvalent de San Pedro S.A. (TIPSP) — a project company and wholly owned subsidiary of Snedai Energies — was locally incorporated in the Ivory Coast.
Then, on May 29, 2017, TIPSP was granted a 35-year a concession by the Government of Côte d’Ivoire to design, build, finance and operate a new bulk terminal in San Pedro, Ivory Coast with the capacity to accommodate “Panamax” and "Handymax" vessels. On April 23, 2018, Mr. Hilaire Marcel LAMIZANA, Managing Director of the Autonomous Port of San Pedro (PASP), and Mr.
Chen Mi Li, Managing Director West Africa of the China Harbor Engineering Co Ltd (CHEC), signed a memorandum of understanding (MOU) regarding the extension of San Pedro Port, Côte d’Ivoire’s second largest port (by tonnage).
China Eximbank and ICBC reportedly competed with each other for the financing of this public-private partnership (PPP) project.
The Government of Côte d’Ivoire later announced that ICBC would be the financier of the San Pedro Port Extension Project. The purpose of the project is to expand San Pedro Port, Côte d’Ivoire’s second largest port (by tonnage).
It involves dredging a basin and access channel, rehabilitating or extending the west and east dikes, constructing a container terminal and terminal access road (current cement plant road), and backfilling 150 hectares in the port area.
After the commissioning of the first phase of project (initially scheduled for completion at the end of 2021), the port will allow the processing of solid and liquid bulk cargoes, including ores (including manganese, nickel, and lithium), cement products, petroleum products, and fertilizers. CHEC is the EPC contractor responsible for implementation.
A foundation stone laying ceremony took place on March 19, 2018. CHEC was then selected as the EPC contractor in June 2018. Construction began in June 2019.
As of November 1, 2021, the project had achieved an 80% completion rate. 600 jobs were directly created during the construction phase, and once the port is in operation, it is expected to employ 120 people and create many more jobs indirectly in an around San Pedro.
Staff Comments
- The French project title is Projet d'extension du port de San Pedro or Projet de construction du nouveau terminal industriel polyvalent. The Chinese project title is 圣佩德罗港口的发展 or 科特迪瓦圣佩德罗港口 or 科特迪瓦圣佩德罗港口扩建项目.
- On April 24, 2019, Mr. Hilaire Lamizana, Director General of San Pedro Port Authority in Cote d'Ivoire, met with Mr. Lin Yichong, Chairman of CHEC, in Beijing.
- In January 2020, the European Commission has approved the acquisition of joint control over four project companies (including TIPSP) with concessions to build or operate port terminals in West Africa by Denmark’s A.P. Møller Capital (APMC).
- Snedai Energies is owned by Adama Bictogo, a former CIV Minister of African Integration.
- Some sources suggest that TIPSP is a joint venture between Arise Ports and Logistics (Arise P&L) and Snedai Energies. This issue merits further investigation.
- The face value and borrowing terms of the ICBC loan are unknown. This issue merits further investigation.
Sources & References
- INFRASTRUCTURES ECONOMIQUES : LE CHEF DE L’ETAT ANNONCE UNE AUTOROUTE ABIDJAN-SAN-PEDRO ET L’EXTENSION DU PORT DE LA VILLE
- The battle of the Chinese banks
- EXTENSION DU PORT AUTONOME DE SAN PEDRO : LES TRAVAUX DU TERMINAL INDUSTRIEL POLYVALENT EXECUTES A 80%
- Port Autonome de San Pedro (PASP) / Projets d’extension et de modernisation : « Le port de San Pedro en chantier avant l’heure »
- Project d'extension du port de San Pedro
- DÉPLACEMENT ET EXTENSION DU TERMINAL À CONTENEURS DU PORT DE SAN-PÉDRO
- EXTENSION DU PORT AUTONOME DE SAN PEDRO : LES TRAVAUX DU TERMINAL INDUSTRIEL POLYVALENT EXECUTES A 80%
- Port Autonome de San Pedro (PASP) / Projets d’extension et de modernisation : « Le port de San Pedro en chantier avant l’heure »
- DÉPLACEMENT ET EXTENSION DU TERMINAL À CONTENEURS DU PORT DE SAN-PÉDRO
- Activités économiques : le Ministre des Transports salue les 'résultats probants' du Port de San Pedro
- Côte d’Ivoire : vers un doublement des capacités du port de San-Pédro [3/8]
- Sanpedro-Portci Annual report 2018
- Le démarrage des travaux d’extension du Port de San Pedro se précise
- Economie touristique : visite d’une délégation chinoise au Port Autonome de San Pedro
- Re-organisation of Gabon Special Economic Zone
- M.9670 - APMC GROUP / GSEZ CARGO PORTS / GSEZ MINERAL PORT / TIPSP / ARISE
- A.P. Møller Capital gets nod to acquire port terminals in West Africa
- Le Terminal Industriel Polyvalent de San Pedro (TIPSP) accueille ses deux premières grues mobiles
- CHEC Begins Major Port Expansion Project in Côte d’Ivoire
- Project Envisions New Transshipment Gateway to Western Africa
- The battle of the Chinese banks
- PLAN DE PASSATIONS DES MARCHÉS - GESTION 2019 - (TOME 1)
- Plan de Passation des Marchés Gestion 2019
- Mr. Lin Yichong Meets Lamizana – Director of San Pedro Port Authority in Cote d'Ivoire.pdf
- Google map for terminal industriel polyvalent de san pedro
- Terminal Industriel Polyvalent de San Pedro (TIPSP)
- Presentation_TIPSP-FR.pdf, Économie/ Amadou Koné à San Pedro, pour donner un coup d'accélérateur aux travaux de modernisation du port
- Amadou Koné à San Pedro, pour donner un c oup d'ac c élér at eur aux tr a v aux de modernisation du port
- China Harbour Co is parachuted into San Pedro
- Promotion des transports et activités maritimes Amadou Koné primé à San pedro
- La China Harbour retenue pour le projet d’extension du port de San Pedro
- Le Projet BROTO IPP
- Côte d’Ivoire - New terminal for cement commodities
- Comment Olam Gabon a atterri en Côte d’Ivoire avec Adama Bictogo
- Adama Bictogo
- Abidjan’s king of business
- ETUDE D’IMPACT ENVIRONNEMENTAL ET SOCIAL PROJET DE CONSTRUCTION D’UN TERMINAL INDUSTRIEL POLYVALENT AU PORT AUTONOME DE SAN-PEDRO
- TERMINAL HUILIER SAN PEDRO
- TERMINAL INDUSTRIEL POLYVALENT DE SAN-PEDRO « T.I.P.S.P. »
- ETUDE D’IMPACT ENVIRONNEMENTAL ET SOCIAL PROJET DE CONSTRUCTION D’UN TERMINAL INDUSTRIEL POLYVALENT AU PORT AUTONOME DE SAN-PEDRO PARTIE 0 : RESUME NON TECHNIQUE
- 唐卫斌大使会见博洛雷科特迪瓦国家经理
- 中国港湾签署特迪瓦圣佩德罗港口扩建项目商务合同
- 陈奋健会见中国驻科特迪瓦大使
- 科特迪瓦圣佩德罗港改扩建项目取得新进展
- RÉPUBLIQUE DE CÔTE D’IVOIRE PEFA 2017 Évaluation de la gestion des finances publiques, 2ND IN COMMAND Côte d’Ivoire: Adama Bictogo, at the heart of Ouattara’s RHDP party Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Terminal Industriel Polyvalent de San Pedro S.A (TIPSP)
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