Inauguration of the new Bazary Be in Toamasina

Posted on June 20, 2014

On June 20, 2014, the new market of Bazary Be in Toamasina, completely renovated by Ambatovy, was inaugurated in the presence of the President of the Republic of Madagascar, Hery Rajaonarimampianina and the Vice president of sustainable development of Ambatovy, Louis Roland-Gosselin. This market is one of the first projects financed by Ambatovy’s Social Investment Fund, which is intended to finance social projects and infrastructures in the Company’s intervention areas.

“It is with great pleasure that we are here today to deliver to the Municipality of Toamasina the new Bazary Be which we hope will participate in the development of trade exchange in the city of Toamasina and, thereby, its enrichment,” said Ambatovy’s Vice President of Sustainability, Louis Roland-Gosselin, during the inauguration ceremony. “Our greatest wish is to actively contribute to the development of Madagascar in several ways: we want to help your Government to convince other major investors to settle in Madagascar, we want to participate in the development and the expansion of the country’s economic fabric, and we want to contribute to the training of the actors of this development, particularly through vocational training.”

The new market, which covers a surface area of 5,300 m², will accommodate more than 750 merchants. The market has several related facilities, such as water points and toilets. In addition to the main building which will host shops selling food and manufactured items, fishmongers, and fast food sellers, pavilions and shelters are also available for merchants selling handicrafts, furniture, and fruit as well as flower and leaf plants.

As a reminder, in 2012, as part of its commitment to sustainable development, Ambatovy implemented a Social Investment Fund, amounting to USD25 million, to finance social projects and infrastructure in the Company’s intervention areas. Projects are selected in consultation with the regional authorities and the Government of Madagascar in order to contribute to the social and economic development of the populations in these regions. Eight projects are currently being funded by Ambatovy’s Social Investment Fund, including the poultry project Harenasoa in the municipalities traversed by the pipeline, the destruction of ammonia at the former ZEREN site in Toamasina, the establishment of a civil protection unit specializing in industrial risks, the construction of a market in Moramanga, the rehabilitation of a section of road in Ambatondrazaka, urban waste management in the cities of Toamasina and Moramanga, and support for JIRAMA in Toamasina in the improvement of power supply in this city.