The Borrower is aligning its operation with the new Standard Gauge Railway to add terminals for other dry bulkcommodities and expand its grain handling capacities along the Railway line in Mombasa and Nairobi.Seaport Group assisted ILF as Ecobank’s Lender’s Technical Advisor during Project implementation. Phase I of theassignment is a Due Diligence covering review of the Project Documents, e.g. project management, engineeringdesign, schedule, financials and contracts. Phase II is project progress monitoring during construction, whichincludes review of and approval of costs certificates, and monitoring of cost and project progress. This includesadvice to Lenders on issues that could lead to delays or other technical issues.
Seaport’s role focuses on:
- Review of project documentation, mainly financial & contractual aspects of the Phase I Due Diligence
- Review of monthly and quarterly reports and other material from Borrower as part of the Phase II projectmonitoring (primarily referring to physical progress, schedule, budget, risks)
- Review of cost certificates and utilisation requests issued by Borrower against the conditions of the LoanFacility Agreement and project progress
