Work has begun on a 400ha industrial and logistics park in the West African country of Togo that aims to process the impoverished country’s agricultural products.
Called The Industrial Platform of Adétikopé (PIA), it will built to the north of the capital, Lomé by a joint venture between the government of Togo and the industrial park developer, Arise IIP.
Arise IIP itself is a joint venture between Singaporean agri-business company Olam International, which holds 49.5% of its shares, and the Africa Finance Corporation (AFC), which owns the remainder.
Expected to cost €200m, equal to 4% of Togo’s GDP, the park is intended to process cotton, coffee, cocoa, cashews and other commodities, allowing the country to capture more value from them.
It will also produce generic pharmaceuticals and cosmetics.
Sani Yaya, Togo’s economy minister, commented in a press statement: "The launch of a project such as the PIA is testament to Togo’s attractive investment climate. PIA’s modern infrastructure and multimodal, integrated logistics services will serve local and foreign investors alike."
The 400ha development will have space to accommodate 700 lorries and 12,500 containers (Arise IIP)
He said the state-of-the-art facility would "play a crucial role in the continued industrialisation of Togo".
The first phase is expected to be complete next year. When fully constructed, the park is expected to provide some 35,000 permanent jobs.
Togo is presently ranked as the 10th poorest country in the world, with a nominal per capita GDP of $618. Â
Arise Integrated Industrial Platforms was set up as a specialist developer of industrial parks. Its main activity up to now has been in Gabon.
The AFC is a development bank set up to finance African infrastructure projects. It is 47% owned by the Central Bank of Nigeria with the remaining shares held by private investors.
Top image: Arise IIP’s rendering of the park