Setrag

About Setrag

Société d'Exploitation du Transgabonais (SETRAG) is the operator of the Trans-Gabon railway, the sole railway line in Gabon. Established in 2003, the company manages a c. 650km strategic railway connecting the port of Owendo, near the capital Libreville, to Franceville in the interior. SETRAG was granted a 30-year concession contract to operate the railway, which is owned by the Gabonese state, starting in November 2005.

The company's business model is centered on providing freight and passenger transport services. Freight, particularly mining products, constitutes the majority of its business, accounting for approximately 90% of the goods transported in 2020. A primary client is its parent company, Comilog, a major global producer of manganese, which relies on the railway to transport ore from its mine in Moanda to the port for export. Besides manganese, SETRAG also transports timber, hydrocarbons, and other commercial goods. The passenger service is a vital link for the population, connecting 24 stations across five provinces and serving approximately 300,000 to 330,000 passengers annually.

SETRAG is majority-owned by Compagnie Minière de l'Ogooué (Comilog), which itself is a subsidiary of the French mining and metallurgical group, Eramet. In 2021, the shareholder structure was updated, with Comilog retaining a 51% majority stake, French asset manager Meridiam acquiring a 40% stake, and the Gabonese State holding the remaining 9%. This change was part of a dynamic to strengthen the railway's upgrade plan, with Meridiam contributing capital and expertise to modernize the infrastructure, improve safety, and increase transport capacity from around 9 million tons in 2020 to a target of 21 million tons by 2029.

The company has been engaged in a significant upgrade program to its infrastructure, which includes replacing rails and sleepers, securing unstable zones, renovating stations, and acquiring new rolling stock. This modernization is supported by international financing from institutions like the French Development Agency (AFD), the European Union, and the International Finance Corporation (IFC).