The New Owendo International Port is a landmark bulk multi-purpose port with a nominal capacity of 4 million metric tons, located at Owendo, 27 km south from the Gabonese capital city Libreville. The port is mainly dedicated to the export of finished and semi-finished products including liquids, fishery products and goods from the dynamic Gabonese wood industry (veneer, plywood, furniture, etc.). The port covers an area of 164 ha and is composed of a 690-meter-long loading/unloading platform, 5 liquid storage tanks with a capacity of 10,500 tons each, 2 grain silos with a capacity of 10,000 tons each, and a state-of-the-art logistics zone, including warehousing facilities and refrigerated areas. The port offers a comprehensive logistic solution through a multi-modal platform with a privileged access by sea, road and rail.
The development of the NOIP by GSEZ Ports is an initiative of its shareholder, Gabon Special Economic Zone (“GSEZ”), a joint venture created in 2010 between Olam International Ltd., the Republic of Gabon, and Africa Finance Corporation with a mandate to develop infrastructure, enhance industrial competitiveness and build a business-friendly ecosystem in Gabon. Since its inception, GSEZ has been developing high-impact infrastructure projects in the country, namely: (i) the 1,126 ha GSEZ Special Economic Zone of Nkok, counting more than 142 investors, from 19 countries, operating in 17 industries and serving a fully vertically-integrated timber industry, (ii) the GSEZ Mineral Port, a state-of-the-art bulk terminal supporting the development of the local mining industry, (iii) Libreville Airport’s management since October 2018, (iv) GSEZ Infras project with the deployment of electrical power lines and water supply networks (v) and the New Owendo International Port.
Commenting on the transaction, STOA’s CEO, Charles-Henri Malecot notes: “We are proud and thrilled to invest in GSEZ Ports, owner and operator of a large-scale and high-impact infrastructure, alongside a strong and experienced infrastructure partner, GSEZ, supporting Gabon’s ambition build a vigorous industry less and less dependent on oil. STOA is eager to build a long-term alliance with a partner with whom it shares common values, notably the goal to create durable jobs and foster the sustainable development of Gabon in a shift away from the oil industry.”
Gagan Gupta, CEO of ARISE -GSEZ’s parent company– added: “We are pleased to welcome STOA as a strategic partner to participate in our continuous efforts to keep developing key infrastructure supporting Gabon to grow and diversify its economy.”
The investment in GSEZ Ports represents the fifth investment of STOA after only two years of existence as an emerging markets’ infrastructure investor.
Marie-Laure Mazaud, STOA’s Deputy CEO, highlighted the strategic interest of this investment for STOA: “This transaction, STOA’s first in a port asset and in the transport sector in general, will be key in achieving STOA’s ambition to invest at least 300 M€ in the African continent by 2023. STOA is looking forward to helping the scale-up of GSEZ Ports and its objective to improve quality of service to the increasing number of vessels and cargo ships coming to and leaving Gabon.”
