Togo LCT


This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors’ consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC’s activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only.

Project number 29197
Company nameSociété Lomé Container Terminal
SectorPort and Harbor Operations
Environmental categoryA
Date SPI disclosedNovember 2, 2010
Projected board dateJanuary 28, 2011
Previous EventsInvested: December 21, 2012
Signed: June 30, 2011
Approved: January 6, 2011

Project description
Lomé Container Terminal (LCT) SA (“LCT” or the “Company”), a locally incorporated company, was awarded a 35 year concession on December 2008 (the “Concession”) by the Government of Togo (“GoT” or the “Government”), with an optional 10 year extension, to develop, construct and operate a greenfield container terminal (the “Terminal”) within the Port of Lomé (the “Port”) in Togo (the “Project”). Upon completion, the Terminal is expected to have an estimated handling capacity of up to 1.5 million twenty foot equivalent unit (“TEU”) moves per annum. Further expansion of the Terminal, south of the newly constructed port basin is envisaged in the longer term.


Project sponsor and major shareholders of project company
LCT is indirectly wholly owned by Global Terminal Limited (“GTL”). Terminal Investment Limited (“TIL”) is a co-sponsor of the Project, alongside GTL. GTL and Terminal Investment Limited (“TIL”) are sister companies and together hold the sixth largest portfolio of container terminal assets in the world. The Terminal will be operated by TIL or an acceptable international partner operator. Mediterranean Shipping Company (“MSC”), the world’s second largest shipping line with a 12% share of the international container shipping market, will be LCT’s anchor customer.
Total project cost and amount and nature of IFC's investment
The Project is estimated to cost €350 million comprising terminal infrastructure, container handling equipment, IT systems, contingencies, working capital, interest during construction, start-up costs etc. IFC is expected to provide up to €75 million in senior debt financing to the Company for IFC’s own account, and help mobilise an additional up to €200 million from other lenders.
IFC investment as approved by Board
116.21 million (USD)
Product LineIFC Investment (million USD)
Risk Management 

* These investment figures are indicative
Location of project and description of site
The Project will be located within the Port of Lomé located on the Gulf of Guinea (Atlantic coast) just east of Togo’s capital close to the Ghanaian border. It is one of the few deep water ports in West Africa and is strategically located to serve as a transshipment hub for the African west coast. It also serves as a gateway to the landlocked countries of Mali, Niger and Burkina Faso and to the northern areas of Nigeria.

Development Impact

Anticipated development impact of the project
The Project will combine deep water location advantages, with state-of-the-art container handling equipment, and world class management know-how to create the first modern container transshipment hub in West and Central Africa (“WCA”) capable of handling today’s larger container ships. This will allow shipping lines to deploy larger container vessels in WCA, avail the region to scale benefits enjoyed elsewhere in the world, and significantly lower transport costs to the Terminal’s users. The Project will result in the expansion of Togo’s maritime sector, stimulate competition in the regional shipping and logistics market and potentially catalyze further regional integration. In addition, the Sponsor will bring port operation and management know-how to Togo, resulting in an upgrading of the skills of the local workforce.

IFC's expected development contribution
IFC is expected to provide long term funding and mobilize funds which are critical to the long term nature of the Project, but unavailable in the commercial market. Moreover, IFC’s support of an international player in the port sector making a significant investment in infrastructure is important given that Togo is a small country that has been starved of FDI over the last decade. The Project’s success will not only encourage further investment in the infrastructure sector in Togo but is likely to have a regional impact as other regional port operators look to improve their infrastructure and improve services. IFC is also assisting the Company in implementing sustainable environmental and social practices that will benefit the Project, the Government and the people of Togo.
Environmental and social issues - Category A
IFC's appraisal of the Environmental and Social (E&S) issues for this project, which is located within the perimeter of the Port of Lomé, outlines a Government led physical and economic displacement of 175 market gardeners and 1,494 sand miners. On the environmental side, potential impacts on the nest sites of IUCN-listed tortoises and a 6.5 hectare area of particular ecological interest, which comprises of mangroves, have been identified. These issues are considered significantly diverse and potentially irreversible impacts; as such the Project has been categorized as A under IFC’s Environmental and Social Review Procedure.

For Further information on detailed E&S impacts and key mitigation measures please refer to the ESRS.

To view the environmental documents for this project, click here


For inquiries about the project, contact:
Kenneth Peire
Manager Civil Engineering
Terminal Investment Limited
P.O. Box 812
4600 AV Bergen op Zoom
The Netherlands
Phone: +31 (0) 164 274 677
Fax: +31 (0) 164 274 698

For inquiries and comments about IFC, contact:
General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

E Mail: Webmaster
Local access of project documentation
Zone Portuaire
Route d’Akodesséwa – 09 B.P. : 9103