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ARISE IIP starts millions of dollars Investment at Koya

HomeAYV NewsARISE IIP starts millions of dollars Investment at Koya

ARISE IIP starts millions of dollars Investment at Koya

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ARISE Integrated Industrial Platforms (ARISE IIP), a developer and operator of world-class industrial ecosystems across Africa, in partnership with the Republic of Sierra Leone, has commenced constructions of the Special Investment Zone (SIZ) at Koya in the Port Loko district.

This asset, in line with ARISE IIP’s ambition to unlock Africa’s industrial potential, will support the Republic of Sierra Leone in advancing the country’s industrialisation agenda.

Within the construction, ARISE IIP will invest USD 120 million in the development of the SIZ – Koya (Sierra Leone Industrial Zones), the result of a public-private partnership between ARISE IIP and the Republic of Sierra Leone.

As part of Phase 1, which commenced in May this year, the SIZ – Koya will feature the installation of 16 production units mainly focused on import substitution industries.

Covering 150 hectares, this first phase is estimated to generate $165 million in private investment (FDI) and create 2,500 direct jobs.

As part of SIZ – Koya Phase 2, 37 production units will be set up over 350 hectares within the zone, mainly in the field of import substitution industries and local processing of raw materials into high value-added products.

The investment is estimated at $140 million (FDI) and 6,500 additional jobs will be created.

The SIZ – Koya integrated industrial zone is designed to host companies specializing, among other things, in agro-industry, timber processing, pharmaceuticals, consumer goods manufacturing, electric vehicle manufacturing, and cement and tile manufacturing.

Gagan Gupta, Founder and CEO of ARISE IIP said: “ARISE IIP is committed to building a sustainable future by creating job opportunities, empowering local communities, and promoting economic growth through industrial development. Our partnership with the Republic of Sierra Leone is a testament to our commitment to making a positive impact in Africa.

“Through the SIZ – Koya project, we aim to create world-class industrial infrastructure that will attract local and international investors to the region. We are confident that this integrated infrastructure will not only lead to job creation, but also contribute more broadly to the industrialization of Sierra Leone in a sustainable and responsible way.”

The Government of Sierra Leone said: “We are proud to partner with Arise Integrated Industrial Platforms (Arise IIP) – Africa’s leader in the development of industrial zones – to launch the SIZ – Koya economic zone.

“This partnership provides a unique opportunity to promote trade, investment, and boost job creations in the country. We are confident in Arise IIP’s ability to undertake this project, as proven in the past by the completion of large-scale projects throughout Africa, and we look forward to working together.”

Samaila Zubairu, Managing Director of the Africa Finance Corporation (AFC) also welcomed the launch: “We are thrilled with this exciting project in Sierra Leone. It echoes the DNA of AFC which is to participate strategically in infrastructure development that fully understands the needs of the country.

It also corroborates AFC’s efforts to support African countries in increasing their industrial facilities.”

Prof. Benedict Oramah, President and Chairman of Afreximbank, said: “We are very pleased to participate in this ambitious project with the Republic of Sierra Leone, which marks a critical step to support ARISE IIP’s rapid growth in Africa, and more broadly, to advance Africa’s industrialisation.”

For the past few years, ARISE IIP has experienced a remarkable expansion across more than a dozen African countries. For reference, in Gabon, ARISE IIP manages the Gabon Special Economic Zone (GSEZ) which focuses on the timber industry, and has created 16,000 jobs, attracted 120 investors, and enabled Gabon to move from being an exporter of logs to the world’s 2nd largest producer and exporter of veneer, as well as the first in Africa.

Across the continent, ARISE IIP’s primary drive has always been the creation of industrial ecosystems committed to generating high local added value along with sustainable growth.

ARISE Integrated Industrial Platforms (ARISE IIP) is a pan-African developer and operator of world-class industrial parks committed to making Africa thrive.

It identify opportunities in commercial and industrial value chains across Africa, and conceive, finance, build and operate the necessary infrastructure, playing a catalytic role in supporting countries to transition to an industrial economy.

They are driven by the pursuit of green growth; our ambition is to unlock the continent’s industrial potential while neutralising our carbon emissions and climate impact. ARISE IIP is currently present in Benin (GDIZ), Togo (PIA), Gabon (GSEZ), Côte d’Ivoire (ZIC), and more.

GSEZ was ranked the world’s best special economic zone in the timber sector (2020 FDI ranking).

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