Equatorial Guinea signed a revised agreement with Sogea-Satom on 28 October 2026 to reduce the cost of three road projects in its planned administrative capital, Ciudad de la Paz, by CFAF20 billion, according to a vice-presidential statement released the following day.
The renegotiation covers Bioko Norte, La Paz and Justicia avenues, where construction remains unfinished. It followed the identification of cost overruns in the initial project budgets and a review of the financial terms agreed with the French contractor.
Vice-President Teodoro Nguema Obiang Mangue chaired the meeting with representatives of the Public Works and Finance ministries and Sogea-Satom management. He announced that a payment timetable would be established for the commitments reached.
The authorities also instructed that an initial disbursement be made to help construction resume. The CFAF20 billion represents the reduction in contract costs announced by the government for the three avenues.