Dakar, August 28 (APS) – The United States Agency for Trade and Development (USTDA) to grant a grant in the amount of 1.2 million dollars, more than 700 million FCFA, to the Sovereign Fund for Strategic Investments (FONSIS) for the financing of the pipeline network of RGS SA (Senegal gas network), APS learned.
The protocol granting this grant was signed this Friday between USTDA and the Sovereign Fund for Strategic Investments (FONSIS).
In a press release, FONSIS explains that this grant from the US Agency for Trade and Development “ is intended to finance studies relating to the construction of the pipeline network of RGS SA (Senegal Gas Network) ”.
RGS SA, a company created by PETROSEN, SENELEC and FONSIS ” will transport gas from production sites to places of use (power plants, industries, domestic gas, etc.).
According to the press release, the ceremony took place by videoconference and in the presence of Abdoulaye Dia Director of the Cabinet of the Minister of Petroleum and Energy, Pierre Ndiaye, Secretary General of the Ministry of the Economy, Planning and Cooperation, Papa Demba Diallo, CEO of FONSIS, Tulinabo S. Mushingi, Ambassador of the United States in Dakar and Todd Abrajano, USTDA Chief Operating Officer (COO).
Created in 2012, the Sovereign Fund for Strategic Investments SA (FONSIS), a limited company 100% owned by the State of Senegal, FONSIS invests in equity and / or quasi-equity in projects with high potential for the economic growth.
Its 3 major areas of intervention are the development of strategic PPP or private projects, co-investment, with equity investments in private companies, and the restructuring of public or private companies.
The United States Agency for Trade and Development. USTDA connects the US private sector with infrastructure projects in emerging markets, funding feasibility studies, technical assistance, and pilot projects that integrate innovation and expertise from US companies.
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