The project director presented the level of pre-requisites on Wednesday, November the 24th, to the members of the employers in Douala.
According to Louis Nlend Banack, this is the only major remaining equation to be solved. "The only operation that prevents us from starting work is the compensation for copyright holders," he admits. The civil engineer goes even further. "The money to pay compensation to affected populations in the first project is available. If the order for compensation was signed today (yesterday: Editor's note) we can start works tomorrow", he explained that "it is the will of the government". Nothing more about the origins of this deadlock. But, we learn, however, that for this first project, three billion CFA francs are to be given to victims of expropriation. And that, overall, the Ministry of Economy, Planning and Land Use (Minepat) who has charge of the project will spend 24 billion within three years to compensate people affected by the 26,000 acres reverted to the State under the terms of the expropriation decree signed by the President on October 14.
Compensation for people looks like the only problem that could prevent the Minepat meet the 2010 deadline set by Paul Biya for the start of work on this book in the register of major structural projects. According to Minepat planning, there are only 36 days left so that they could start works on time. Louis Nlend Banack still believes. "Every effort is made to ensure that we start. Is this possible? Yes, he is betting, and informing that companies that carry out initial works, are already selected. The first work to be performed are earthworks to enable the construction of platforms over an area of 1000 hectares. "The funding is available, technical records are ready," reassures the project manager.
50,000 billion over 10 years All these details have been given to members of the Group Inter Employers Cameroon (GICAM), under the traditional thematic meetings set up to give information on the evolution of major structural projects. Louis Nlend Banack has reassured Fotso Andre, representing the employers in this meeting that the first merchant ship will dock at the deepwater port of Kribi in 2013.
The completion of the first port facilities (dock, embankment, access channel, dam ...) will take place between June 2011 and 2012. Also in June 2011, will be constructed the first multi-purpose terminal and called terminal in late 2012, the first ships will be welcome at Deep Water Port Kribi (called PEK), but only to provide equipment. The project director took this out to give all information related to this project. The PEK will be located at Mboro, 30 km south of Kribi. Terminal iron ore, meanwhile, will be built at Lolabe. The port usually consist of six terminals (container terminal, aluminum, oil, liquefied natural gas, versatile, etc..) At a cost of 400 billion. Terminal iron ore, meanwhile, will cost 350 billion.
All investments to be made under this project, with all the infrastructure of railways, and related projects is estimated at 50 trillion over ten years. 8 trillions for the project Rio Tinto Alcan, also 8 triliions for liquefied gas plant in the NHC. This port, according to the forecast, greatly expand shipping and boost the economy of Cameroon. We're talking 500 billion that Cameroon will gather annually for the export of iron. Besides timber, bauxite and natural gas are also affected. Long neglected, these resources are easily exploited, given the potential of PEK (DWP Kribi), which can dock ships with a capacity of 300,000 tons, against only 15,000 maximum for the Port of Douala, and a draft of 24 meters, against only 7 m to the port of Douala.
On the social side, the project will create 40,000 jobs, including 20,000 direct. Beyond the particulars of the project, Louis Nlend took this out to the private sector to present business opportunities in a dozen sectors. Operations, work, professional services, supplies, etc.. A detail welcomed by Andre Fotso who, like all other members of management, is pleased with the progress of the project.
Cheers BigStar
SDL Price at posting:
38.0¢ Sentiment: Buy Disclosure: Held
