Project Management Support for the AQUAPOLES Project

Project Background

AQUAPOLES is a large-scale aquaculture investment initiative promoted by FONSIS (Fonds Souverain d’Investissements Stratégiques du Sénégal) to support the development of Senegal’s aquaculture sector. The project aims to establish an integrated aquaculture value chain comprising industrial fish farms, a fish feed manufacturing plant, and a fish processing facility. Prior to investment, FONSIS commissioned a series of technical, commercial, economic, financial and environmental studies to assess the feasibility and viability of the project. 

To support investment decision-making, FONSIS appointed COFAD as Technical Advisor and Owner’s Engineer (Assistance à la Maîtrise d’Ouvrage – AMO) to independently review project studies, assess technical and financial assumptions, and evaluate the project’s bankability against international standards. 

Objectives

The overall objective of the assignment is to provide independent technical and financial expertise throughout the project preparation phase and support FONSIS in validating the feasibility and investment readiness of the AQUAPOLES project. COFAD’s role includes:

• Reviewing the technical design and production models of marine and inland aquaculture farms;
• Assessing the feasibility of the proposed fish feed manufacturing facility;
• Evaluating the design and operational requirements of the fish processing unit;
• Reviewing the business plan and financial model, including production assumptions, investment requirements and financial indicators;
• Identifying technical, operational and investment risks;
• Preparing an independent bankability assessment to support future financing and implementation decisions. 

Key Activities

Technical Review of Aquaculture Farms

• Assessment of proposed species and production systems;
• Review of farm sizing, stocking densities, biosecurity and feeding strategies;
• Evaluation of hydraulic, energy, pumping and control infrastructures;
• Assessment of technical, economic and financial viability. 

Fish Feed Mill Feasibility Review

• Validation of production capacity and feed formulations;
• Assessment of raw material sourcing strategies;
• Review of feed manufacturing, storage and processing systems;
• Identification of relevant certification requirements. 

Fish Processing Facility Review

• Evaluation of material flows, cold chain and processing systems;
• Review of facility layouts and operational processes;
• Assessment of compliance with food safety and hygiene standards. 

Business Plan and Bankability Assessment

• Review of key technical and financial assumptions against international benchmarks;
• Assessment of the robustness and auditability of the financial model;
• Evaluation of project risks and investment readiness;
• Preparation of an independent bankability report and strategic recommendations for investors.