Publish Date : 28-Mar-2014
The Seychelles Government has entered into an agreement with a foreign investment company, JACCAR Holdings, to build and operate a 425-metre commercial fishing quay at Ile du Port. This Shareholders' Agreement was signed between the Minister of Finance, Trade and Investment, Minister Pierre Laporte, on behalf of the Seychelles Government, and Mr. Jacques de Chateauvieux, Chairman and Chief Executive Officer of JACCAR Holdings in in Victoria last week
Under the agreement, a Seychelles-based Joint Venture (JV) Company will be created to run the project on a "Build-Operate-Transfer” (BOT) basis. This means that the new company will construct and manage the quay, and transfer it to Government after recovery of the construction cost. The JV will consist of the Société Seychelloise d'Investissement (SSI) on behalf of Government (40%), JACCAR Holdings (40%), and other private Seychellois shareholders (20). The project will be financed on an 80%-20% debt-equity basis and expected to cost between US$15 to US$20 million.
Noting the recent focus of maximizing the potential of Seychelles' blue economy, this project comes at a crucial time and will bring a significant positive contribution towards our port infrastructure and further development of fisheries industry. The groundbreaking for this project is expected in the second quarter of this year.
JACCAR Holdings, based in Luxembourg, is a private company which focuses mainly on businesses in the maritime sector. JACCAR Holdings is the main shareholder of BOURBON, GREENSHIP Bulk, GREENSHIP Gas and SAPMER Holdings, as well as a reference shareholder of the Chinese shipyard SINOPACIFIC Shipbuilding.
Following this project, JACCAR Holding subsidiary's SAPMER Holding will also shortly launch an unloading, grading & sizing, processing and storage facility, also on Ile du Port. This project will be implemented in parallel with the fishing quay.
SAPMER created in 1947, is an historical deep-sea fishing operator in the waters of the French Southern and Antarctic Territories (TAAF). SAPMER now handles a fleet of 12 vessels, including four freezer-longliners for Patagonian Toothfish, one Freezer pot Lobster vessel, and seven tuna -40°C deep freeze purse seiners for its tuna fishing activity (Yellowfin and Skipjack) in the Indian Ocean.
SAPMER is positioned on premium processing activity (sashimi grade loins, steaks) of halieutic products.
Go to previous page
