SNH mandates BGFIBANK Cameroon to raise USD 210 million for the CSTAR project

A strategic financial partnership to accelerate the implementation of the project

SNH and BGFIBANK Cameroon signed, on 4 November, a Framework Agreement granting the bank a mandate to mobilise USD 210 million for the CSTAR project. The agreement, signed by Minister Adolphe Moudiki and Mr Abakal Mahamat, marks a major turning point in the implementation of this strategic oil infrastructure.

The CSTAR project involves the construction of a modern refinery with a capacity of 30,000 barrels per day, located near the Kribi Deep Sea Port. With a total estimated cost of USD 621.96 million, the project is expected to create 5,000 direct and indirect jobs.

BGFIBANK will leverage its financial expertise and extensive network to support the structuring of the project’s funding. For SNH, this mandate represents an important step towards the realisation of the President of the Republic’s vision for energy sovereignty and industrial development.