USD 45–50 million in annual transhipment costs. Three named mineral export ports. One privately-funded dredging concession that solves all of them — and we are looking for the right partner to build it.
Tideway Company Limited is a Sierra Leone-registered infrastructure development company incorporated to originate, structure, and develop the capital dredging concession that will permanently transform Sierra Leone's mineral export logistics. We are not a construction company, a dredging contractor, or a trading house. We are a focused project development originator — the firm that finds the opportunity, maps the commercial case, secures the government framework, engages the off-takers, and brings a world-class technical and capital partner to the table.
Our principal advantage is direct access to the Government of Sierra Leone, the Sierra Leone Ports Authority, and the three mining companies operating on the corridor — relationships that took years to build and cannot be replicated quickly. We have engaged the Ministry of Transport and Aviation formally, developed the government participation and revenue sharing framework, and are actively preparing for ministerial sign-off on the concession development mandate.
We have produced the full commercial and legal project suite: government concept notes, ministerial presentations, government participation heads of terms, project teaser and partner outreach documentation, a joint development agreement framework, and a preliminary financial model. The project is ready to engage with a qualifying dredging partner immediately.
What we bring to a partnership is what the world's leading dredging companies cannot originate from their head offices in Antwerp, Rotterdam, or Papendrecht: in-country credibility, government access, captive off-taker relationships, and a structured BOOT concession framework built to the standards expected by international project finance lenders.
Every major mineral export port on Sierra Leone's national corridor loads ships through offshore transhipment — because the approach channels are too shallow for direct berthing. The cost is between USD 45 and 50 million every year, and it falls entirely on the mining companies. The solution is one capital dredging programme across three ports, structured as a single privately-funded BOOT concession with vessel toll recovery.
Annual combined offshore transhipment cost across the active corridor ports today — the economic problem this concession permanently solves.
Vessel toll per call — set materially below the current transhipment cost, giving mining companies immediate savings while generating sustainable toll income for the concession SPV.
Build, Own, Operate and Transfer. Private consortium finances and dredges the channels. Revenue recovered through vessel tolls over the concession period. All infrastructure transfers to the Government of Sierra Leone at expiry at no cost. Zero public expenditure. Zero sovereign borrowing.
A per-vessel toll set at USD 250,000 per vessel call across all three Corridor Ports — structured as a single integrated tolling framework under one concession authority. At near-term corridor capacity of approximately 138 vessel calls per year, gross annual toll revenue is USD 34.5 million.
The Ministry of Transport and Aviation and the Sierra Leone Ports Authority are formally engaged. The Government participation framework — covering revenue sharing from Year 1, an annual concession fee, SLPA port dues preservation, and a 15% SPV equity option — is under active development.
Three operating or near-operating mining companies with documented offshore transhipment costs of USD 700K to USD 1.7M per vessel call. None requires persuasion: a dredged direct-berth channel saves every operator money on every single vessel call for the life of the concession.
Concession Agreement structured under English law with ICSID/ICC arbitration at London seat. Tariff stability clause protects toll rates for the full concession period — a bankability requirement for project finance lenders. Full government participation Heads of Terms ready for ministerial execution.
The Kasafoni / Sula Mountain concession in Tonkolili and Koinadugu Districts holds a reported 4.4 billion ton combined iron ore and bauxite reserve. Investor discussions are advanced. A dredged corridor is a material factor in the investment decision — and Kasafoni's volumes would push long-term corridor traffic to 190–240+ vessel calls per year.
The Sierra Leone River estuary and its northern tributary, the Bankasoka River (Port Loko Creek), form a single interconnected marine export corridor. All three Corridor Ports share the same physical bottleneck — shallow approach channels preventing direct berthing by Panamax and Capesize bulk carriers. This is what makes the concession commercially elegant: one capital dredging programme across one connected waterway system solves the problem for all three ports simultaneously.
The 200,000 DWT Capesize bulk carriers currently loading iron ore at anchorage up to 15 kilometres offshore require between 6 and 21 days per vessel call under the current offshore transhipment model. A dredged channel reduces this to a direct-berth 24–48 hour turn.
Every tonne of iron ore and bauxite produced on this corridor must transit the same approach channels. The mining companies are not customers to be acquired — they are captive users of the infrastructure the moment it is built.
The largest operation on the corridor. Currently loads Capesize vessels at offshore anchorage approximately 15km from port. Loading time 6–10 days per vessel. Direct-berth access would reduce per-vessel cost by several hundred thousand dollars.
Severely constrained by the Bankasoka channel. Loading takes 14–21 days per vessel. In adverse weather conditions with Capesize, total per-vessel cost exceeds USD 1 million — more than four times the proposed vessel toll.
Bauxite export operation suspended March 2026. Pre-suspension projections of 5 MT (2026) rising to 7.5 MT (2027) — approximately 38 vessel calls per year at target. Concession terms require mandatory resumption through the dredged channel on restart.
Adjacent to the Leone Rock concession. Advanced investor discussions underway. A dredged, direct-berth corridor is cited as a material factor in the investment decision. At scale, Kasafoni alone would add 50–100+ vessel calls per year to the corridor.
Indicative figures based on published production targets, documented transhipment costs, and the proposed tolling framework. A full financial model — including debt structuring scenarios, IRR analysis, and sensitivity tables — is available under NDA to qualified partners.
| Scenario | Vessel Calls / yr | Gross Revenue |
|---|---|---|
| Base case (today — Leone Rock + Marampa) | ~65 | USD 16.25M |
| Near-term (all 3 ports at 2027 targets) | ~138 | USD 34.5M |
| Long-term (+ Kasafoni at scale) | 190–240+ | USD 47.5–60M |
| At target — total corridor potential | 200–240+ | USD 50–60M/yr |
Subject to hydrographic and geotechnical surveys. Covers capital dredging of Sierra Leone River approach (Pepel) and Bankasoka River approach (Thofayim & Maforki), turning basins, berth pockets, and navigational infrastructure.
Long-term operating income structure. Assets transfer to Government of Sierra Leone at expiry in full operational condition, at no cost.
Starting at 7% of Gross Toll Revenue from Year 1, escalating in 0.5% steps every five years to a cap of 10%. Combined with a USD 750,000 annual concession fee (compounding at 3% p.a.) and preservation of all SLPA port dues.
From contract signing to full three-port operational completion, including survey, ESIA, environmental permitting (Ramsar wetland), capital dredging, and commissioning phases.
We are not running a tender. We are initiating a small number of confidential conversations with the world's leading dredging companies — the firms that have the capital, the fleet, the concession experience, and the appetite for a 20–30 year operating asset in a high-growth mineral export corridor.
Tideway brings what cannot be replicated from Antwerp, Rotterdam, or Papendrecht: direct access to the Minister of Transport and Aviation, documented relationships with the mining companies whose cargo will fill the dredged channels, and a commercial framework built to the standards expected by international project finance lenders.
The right partner brings what Tideway does not — and should not — try to provide: the capital to fund USD 120–300M of dredging works, the fleet and technical expertise to execute them, and the institutional appetite to hold an operating infrastructure concession across a 20–30 year horizon.
The firm that moves first with credibility and commitment will co-develop this concession under a Joint Development Agreement structured to protect both parties' positions as the project progresses to financial close.
A full project information pack — including the financial model, government participation Heads of Terms, preliminary corridor assessment, mining company production documentation, and draft JDA term sheet — is available to pre-qualified firms following execution of a mutual non-disclosure agreement. Contact us to initiate the process.
What we are looking for
Proven BOOT or PPP concession track record — preference for firms with an existing concession operating portfolio, not only project construction experience
Capital commitment capability — estimated CAPEX USD 120–300M, privately funded from partner balance sheet or project finance — no public capital, no government guarantee
Estuarine and river channel dredging fleet — trailing suction hopper dredgers and cutter suction dredgers capable of operating in tidal estuary and creek conditions
West Africa or frontier market deployment experience — familiarity with complex regulatory and environmental permitting processes in Sub-Saharan African jurisdictions is a clear advantage
Long-term institutional appetite — partners seeking construction-phase fee income rather than a 20–30 year operating asset are not the right fit for this opportunity
Pre-qualified target firms
Whether you are exploring the opportunity, requesting our information pack, or ready to initiate NDA execution, we respond to all serious enquiries within two business days.
For qualifying dredging firms: Following a brief introductory exchange, Tideway will provide a full project information pack including the financial model, government participation Heads of Terms, preliminary corridor assessment, mining company production data, and draft Joint Development Agreement term sheet — all under mutual NDA.