AYV News February, 8, 2023
ARISE Integrated Industrial Platforms (ARISE IIP) is set to invest 1.7 billion dollars in Sierra Leone to change the face of the industrial ecosystem in the country and create more employment opportunities for skilled and unskilled Sierra Leoneans. This is progress for the betterment of Sierra Leone.
It can be recalled that the Government of Sierra Leone has signed the Pepel Port and Pepel – Tonkolili Railway Development, Expansion and Management lease agreement with ARISE Integrated Industrial Platforms Ltd.
The Agreement is part of the bigger reforms in the mining sector, where the government intends to open the space for more players to participate, according to the Minister of Mines and Mineral Resources, Timothy Kabba.
He said ARISE IIP is a credible company with a reputation for developing and managing infrastructure in Africa. “This agreement is taking a government asset from monopoly to be more accessible” he added.
Minister Kabba said that the revival of the mining operation requires significant investment in infrastructure for the country to fully benefit from the growth of its mining output.
This lease agreement will give a 10% free Carry to the Government of Sierra Leone and provide access to rail and port facilities to other bulk mineral producers in the northern corridor.
The project will expand economic activities by providing jobs for Sierra Leoneans and enable passengers’ locomotion from Tonkolili through Bombali to the Port Loko district.
Through this Agreement, the company will also introduce passenger rail service that provides communities with improved mobility and trade access, increase mineral export with an additional 20 million MT, 10% dividend to Government, surface rent to landowners, annual royalties, PAYE and other taxes.
ARISE IIP is a sector specialist firm with a proven record across Africa in managing infrastructure and the Agreement is in the best interest of the government.
The business plan, financial model and pre-feasibility studies are estimating a total investment of 476 million dollars covering the refurbishment of the Pepel Tonkolili Railway work, Pepel Port, Railway connectivity to Marampa mines, the introduction of passenger rail services and rail connection to Guinea.
ARISE IIP’s Managing Director, Jesper Harring Boll said ARISE is a conceiver, developer and operator of high-added-value infrastructure committed to making Africa thrive with an investment of several billion dollars and a good track record across many countries in Africa like Benin, Togo, Gabon, Cote d’Ivoire, Tchad, RoC, DRC or Rwanda.
He said ARISE IIP identifies gaps in African countries that unlock value and create new industries to create local transformation and maximise production, efficiency and cost to generate growth and local value addition.