Infrastructure fund manager Meridiam has acquired a stake in the Trans-Gabon Railway railway concession in Gabon.
Meridiam said it has acquired a 40% stake in Setrag, the concessionaire which operates the Trans-Gabon Railway (Transgabonais) which links Franceville to Libreville and the port of Owendo.
Meridiam is investing an undisclosed sum for its stake alongside existing shareholders Comilog, Eramet and the government of Gabon.
Transgabonais ensures the transport of freight and passengers with an average of 330,000 annual passengers and nearly 9m tons of goods transported in 2020. It carries, in particular, the bulk of the country’s manganese production - 90% -, and wood freight.
As an investor, Meridiam brings its experience in infrastructure investment and management, as well as its rail expertise to carry out a major modernisation, renovation and upgrade program of the railway infrastructure, Meridiam said.
Mathieu Peller, partner and COO of Meridiam in Africa, said: “We are thrilled to become a shareholder of Setrag, alongside Comilog, Eramet and the Gabon State.
“This investment will contribute to accelerate the Transgabonais pace of investment and increase the capacity of the railway line. This strategic and vital infrastructure will benefit to the communities and local businesses and support the country’s development and economic growth.”
In Africa, Meridiam has enabled the financing and development of 17 major infrastructure projects in the last six years in the areas of energy.
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