A new port terminal in San Pedro, Côte d’Ivoire – backed by Singaporean agribusiness company Olam – is a boon to the mining and agricultural sectors of Côte d’Ivoire and neighbouring countries like Guinea, Mali and Burkina Faso. The Terminal Industriel Polyvalent de San Pedro (TIPSP) is majority-owned by Arise Ports & Logistics (P&L), which counts Olam as a 32.41% shareholder, along with A.P. Moller Capital and the Africa Finance Corporation. TIPSP holds a 35-year concession, which encompasses the design, construction, financing, operation and maintenance of the terminal, an integral part of the extension of the Autonomous Port of San Pedro that started in 2019. The terminal began operations in late 2021 and has already processed more than one million tonnes in volume, particularly mining ores such as nickel.
TIPSP’s concession gives it the right to handle the import and export of multiple liquid and dry commodities, including clinker, gypsum, limestone, manganese, nickel ore, lithium, coal and bulk liquids (hydrocarbons and palm oil). It is the only port in the sub-region able to receive, store and distribute many of these mining commodities. With its modern equipment, the terminal reduces dependence on the ports of Abidjan and other West African countries, while making commodity exports from Côte d’Ivoire and its neighbours more competitive. It is anticipated the terminal will also catalyse the construction of new roads in the region and the establishment of new trade pathways.
TIPSP recently announced it has secured a EUR90m (US$91.6m) 10-year senior debt financing package from three South African banking groups: Standard Bank, RMB and Nedbank.
The Arise group is a pan-African infrastructure and logistics player operating under three verticals: Arise Integrated Industrial Platforms (IIP), Arise Infrastructure Services (IS) and Arise P&L. The group was formed when Olam re-organised its associated company, Gabon Special Economic Zone, into the aforementioned three units. Each vertical is a unique joint-venture partnership, with strategic partners and host government shareholders. Earlier this year, Olam divested its stakes in ARISE IIP and ARISE IS but it continues to hold its shareholding in ARISE P&L, which operates two port terminals in Gabon in addition to TIPSP.