Mining company Pan African Minerals, controlled by Romanian businessman Frank Timis, recently signed a memorandum of understanding with French group Bollor to develop a USD 895 million railway project in Burkina Faso, according to Reuters.

The railway will connect the Tambao manganese mine in Burkina Faso to the Abidjan port in Cote d’Ivoire. Pan African Minerals will invest USD 360 million to build some 300 kilometers of railway from Tambao to Kaya, a city which is located to the North of the Burkinabe capital Ouagadougou.
Bollor will revamp some 1,250 kilometers of railway between Kaya and Abidjan.

The group controlled by Frank Timis recently received the approval from Burkinabe authorities to develop the Tambao mine, which might be the largest manganese mine in the world. The total investment will be about USD 1 billion.

Two Romanians in the Forbes top of the world’s billionaires: Dinu Patriciu and Frank Timis

editor@romania-insider.com