ROME (ITALPRESS) – 70 km of asphalt road to join Cameroon to Gabon: a joint venture of Italian companies between Seas and Cosedil will carry out the upgrading works of one of the most strategic road sections in Cameroon on behalf of the Cameroonian Ministry of Public Works. SACE has secured the 94 million euro export credit line made available by Deutsche Bank and in favor of the Republic of Cameroon, thanks also to the support of SIMEST related to the stabilization of the subsidized fixed-rate financing (so-called “CIRR”) and the granting of a non-refundable contribution on the margin applied by Deutsche Bank.The project involves the rehabilitation, modernization and widening of the road, which is now unpaved and unusable for several months of the year: an intervention that will drastically reduce travel time, facilitate access to basic services for the population by raising their quality of life, improve connections and economic interchange in the area, as well as reduce negative impacts on the environment.Seas is a small Umbrian company that operates and implements civil engineering projects in Italy and abroad and has been the promoter of the operation. Cosedil is a medium-sized civil engineering company with operational headquarters in Sicily whose involvement in the partnership was decisive in forming the joint venture.Roberto Mariucci, Head of SEAS, and Francesco Pauselli, Head of SEAS-COSEDIL CAMEROUN said, “The goal achieved represents a significant entrepreneurial success for all Italian SMEs. This result underlines the importance of presenting not only a technical offer but also a financial proposal; in this context, the remarkable synergy between public and private entities, including SACE, SIMEST, Deutsche Bank, and the companies themselves is emphasized. In short, Sistema Italia worked impeccably. “Valerio Perinelli, Chief Business Officer of SACE, said, “This operation confirms our constant commitment to projects that involve Italian companies even in complex contexts such as the African Continent, which we look at with particular attention. We are pleased to have teamed up and made possible this important infrastructural intervention for Cameroon, which brings with it important impacts for the community. “Carolina Lonetti, Chief Export & Soft Loans Officer of SIMEST said, “With this operation we confirm our commitment to support the export of Italian small and medium-sized companies in the world. SIMEST’s intervention, by making the cost of financing more competitive, has enabled an important order for the development and modernization of a strategic continent for the entire Mediterranean. In fact, with the upgrading and widening of the road connecting the cities of Olounou and Oveng in Cameroon, Seas and Cosedil will contribute to the improvement of mobility and connectivity in this area of the country, generating benefits for the entire local community. Supporting Italian companies, particularly SMEs, in projects that have positive spillover effects on the territories is for us a source of great satisfaction and an incentive to continue to operate as their strategic partner. “Marco Poma, Head of Structured Trade & Export Finance Italy at Deutsche Bank, added, “The creation of basic infrastructure represents the most concrete way to multiply the enormous potential of emerging countries and create opportunities for local populations. We are therefore particularly proud to support this project and to support the work of small and medium-sized Italian companies, which can offer the appropriate skills and tools for projects of this scale, operating effectively and with a cooperative style that is attentive to local sensitivities.”-photo press office SEC Newgate-(ITALPRESS)
