The government of Cameroon, through its Ministry of Public Works (Mintp), recently stated that the fundraising for the construction of 14 automatic toll booths, across the country has finally been concluded.
It is said that the Tollcam’s contract, which was formed by the French consortium Razel Bec-Egis, is expected to take effect at the end of the month, as well as a settlement between the Ministry of Public Work, the Ministry of Finance, and Tollcam is expected to be reached soon.
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After the contract is signed, construction work on the three sites of the National Road 3 is expected to begin soon.
After talks with Proparco failed, Mintp reports that Guarantco, a member of the Private Infrastructure Development Group (PIDG), is currently the project’s new investor.
A proposal for a local currency guarantee (FCFA) and a solution that would allow it to help the country in the implementation of expropriations with a complementary funding facility was also confirmed by the new lender.
The new deal’s details (parties’ obligations, rents, and duration of the arrangement) are not known yet. The prior agreement was for a period of 20 years, which included two years of construction and eighteen years of operation. More than 300 direct and numerous indirect employment opportunities were expected to be created during construction.
The amount of revenue expected from the 14 automatic toll booths
The 14 automatic toll booths were expected to generate CFA7 billion in revenue in 2021 and CFA53.59 billion in 2039, based on a single CFA500 tariff, with an initial expenditure of CFA28.94 billion. In 2021, the net revenue to be returned to the state was set at CFA5.482 billion, while in 2039, it was set at CFA48.995 billion.