SDL Mbalam project will depend on others structuring projects such as "The deepwater port of Kribi", etc...
This is why it's important to know those projects timelines in order to gauge the progress of Mbalam project.
The good point for SDL is that the "The deepwater port of Kribi" project is programmed to start in 2010 (March) with the first services operational by the end of 2013. Under the Government proposal, the new port is to be developed as a multi-user facility by some of the largest resources, logistics and construction companies in the world.
Recall that Sundance Resources has been selected to develop a US$236 million iron ore terminal, which is expected to become a major shipping hub servicing the Mbalam Iron Ore Project [production due to start 2013 /one of the 10th largest in the world] and Belinga Project as well as other emerging industries in the region. The port is expected to service neighbouring Congo and Gabon.
Following are some infos I got from GICAM forum (Douala 16/12/2009):
"Structuring projects and development of outsourcing: what strategies to adequate benefits for the Cameroonian economy? " (translated from French)
This is the theme addressed by both speakers. What is it exactly?
To become the emerging country whose dream a majority, Cameroon must realize over the next 25 years an economic growth rate through about 7 to 8% per year and show an investment rate of at least 25% per year for 25 years. That is the challenge! But over the last 10 years the rate investment has hovered around 18% including 2% for the public sector. Experts believe this effect to be substantially increased investment, both public and private.
The state of Cameroon as well. At least, that Mr. MBASSI NDINE, Secretary General Ministry of Economy, Planning and Regional Planning explained during his open communication on the challenge of growth: 2 Cameroon of 5 live below the poverty line, "he lamented. Hence the DSCE that the present government as the tool that will focus on a Growth creates jobs. We are therefore faced with a change of purpose, strategy and methodology in running the economy. Only now, after all this said,
What about concrete?
The response of the state is constant and is called the creation of SMEs, promotion of technologies that create jobs and using local materials, launching 11 projects likely to start in 2010 or 2011. They are:
- The deepwater port of Kribi - Dam reservoir Lom Pangar - 2nd bridge on the Wouri, - The overall installation of the fiber optic - The development of East and West entrances of Douala, - The Yaounde-Douala highway, - Of drinking water supplies, - Dam hydro-electric Memvel, - The central gas Kribi - The completion of the ministry building No. 1 of Yaounde - And the rehabilitation of the former building ONCPB.
All these projects, said MBASSI NDINE, expect the private sector.
To ensure that SMEs are not left out, sub-contracting is envisaged through able to dedicate 30% minimum investment to local SMEs. Finally, the Public investment budget will take into account, in 2010, expectations of SMEs through the support of outsourcing.
That said, SMEs are they competitive? The support program and support EPA (PASAPAS) includes a program to support SMEs. Other funding will be implemented, or 8 to 10 billion CFA francs per year to permit the In some companies.
Mr. BABISAKANA was cast for his part in the "constant debate" which calls to exceed stage of speech. It should, he hoped, within a dynamic private sector that it is able to initiate a momentum and put pressure on the state. The remarks of Mr. BABISAKANA interviewed option for large projects because it considers that the development strategy chosen by the state is "fussy" and without programming: is the idea but the way to proceed is not operational, has he then bombarded. Hence questions about the areas chosen of comparative advantage, there was not a lightly taken by Mr. BABISAKANA cons who has identified 17 projects costing a total of 33 billion dollars and in which the state is always present when he accuses real deficiencies in capacity management.
Eager to deal the final blow, he argued that BABISAKANA GICAM should not only start the debate. It should also contribute to increasing the supply of subcontracting and develop relationships with outsourcers. GICAM and professional organizations must be present along with outsourcers about their needs. In short, much of the responsibility of the mandate private sector.
The phase of Q allowed one speaker and one to specify certain aspects of their communication or defend their points of view for better understanding of the issues under review. Mr. MBASSI NDINE the Cameroon is first-in-the comparative advantages of engaging in agricultural sector development by ensuring that most of the value added remained in Cameroon. The chain approach seems, from this point of view, one that could lead to a conclusive result. The question is where are the priorities State said Mr. BABISSAKANA.
A national shipowner for his part said that the maritime sector expected to contribute to Transportation of goods from or attracted to major projects is absent forecasts of the state. An insurer has requested that the State protects the market and sometimes supports outsourcing not limited thereto.
Mr. BABISSAKANA then requested that the State has a capacity instrumental him to accompany the private sector and do not suffer major investors it should rather manage by establishing clear rules of the game and the upholding by all.
It has also been said that the corporate strategic plan and the projects structures are subject to delays. In this regard, if the state wants to emerge international level and by subject, it must be clear and focused on the essential allow as many "dots".
In conclusion, we may agree with one of two speakers that "when we think excellence, we must learn to use tools used by others, questioning the weaknesses and solve them yourself. "
SDL Price at posting:
14.0¢ Sentiment: Hold Disclosure: Held
