SMB-Winning announces USD3bn investment

In 2018, the SMB-Winning consortium will launch feasibility studies for the construction of an alumina refinery and a railway line to be built in Guinea by 2022.

SMBThe SMB-Winning consortium, a major player in the bauxite sector, presented to Alpha Condé President of the Republic of Guinea a project to build an alumina refinery in Guinea as well as a railway to open the Boffa corridor and to carry bauxite to the refinery and the Dapilon river port. Total investment planned for the whole project is about USD3-billion.

The feasibility and social and environmental impact studies will be carried out in early 2018 for a start of works planned in 2019. The construction phase will create 10 000 jobs and mobilise local companies, among which experts in civil engineering, extraction, construction and services are included. The refinery will be located in Dapilon in the Boké Special Economic Zone.

“This investment illustrates our ambitions for the Boké region and our contribution to Guinea’s economic and social development. The mining sector, together with agriculture, is the lung of the country’s development and, in our approach as a mining operator, must also focus on facilitating a local redistribution of the benefits, especially in favour of the communities, education, jobs and priority sectors such as the agro-industry,” comments Frédéric Bouzigues, managing director of Société Minière de Boké (SMB).

“The local processing of raw materials is one of the biggest challenges for a more inclusive growth in Africa because it creates more value locally while leading to economic diversification. This commitment to Guinea also demonstrates our confidence in the continued improvement of both its business environment and macroeconomic stability. This project also demonstrates the technical and financial complementarity of our Franco-Sino-Singaporean consortium to carry out these types of ambitious projects,” says Fadi Wazni, chairman of SMB.

Founded in 2014, the SMB-Winning consortium brings together three partners in the fields of bauxite mining, production and transportation: Singaporean shipping company Winning Shipping, UMS, a French owned transport and logistics company that has been present in Guinea for over 20 years and Shandong Weiqiao, a leading Chinese company in aluminium production.

The consortium plans to export 30 million tons of bauxite in 2017, making Guinea the world’s largest exporter of bauxite and the consortium one of the major contributors to the country’s gross domestic product.

* Image credit: SMB-Winning 


 

 

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