Gide has acted as legal advisor to the International Finance Corporation (IFC), itself acting as Lead Advisor of the Government of Senegal represented by the Executive Council of Urban Transport in Dakar (CETUD), in relation to the structuring, award, negotiation and signature of a concession contract for the financing and procurement of rolling stock and the operation and maintenance of the Bus Rapid Transit (BRT) Project in Dakar, Senegal.
The concession contract, signed on 21 March 2022 for a period of 15 years with the consortium led by Meridiam with its partners Keolis and the Senegalese Sovereign Wealth Fund (FONSIS), includes the acquisition of a 100%-electric bus fleet for a total investment of more than EUR 135 million.
The BRT extends over 18.3 km of dedicated lanes between Guédiawaye et Petersen Station, serving 23 stations and 14 municipalities. The BRT will transport approx. 300,000 passengers per day in a near future and cut down travel time by half on the BRT corridor, thus greatly contributing to alleviating congestion in the Dakar area. Construction of the infrastructure is expected to be completed in 2023, with operations of the BRT scheduled to follow.
This is the first BRT in Senegal and the first BRT in Africa structured under a PPP scheme. It is also the first electric BRT on the continent.
The Gide team was led by partner John Crothers (Paris), working with counsel Frédéric Pia (Casablanca) and associate Edouard Bourguet (Paris), all members of our Projects (Finance & Infrastructure) practice group. SCP François Sarr & Associés acted as Senegalese legal counsel.