The overall process of a project development is described as follows:
The feasibility study aims to prepare a reference document at all subsequent stages of the project, which will promote the project to donors and also define the project financing scheme. The feasibility study sets the limits of the project and allows to measure all the implications. The calculation of capital costs is based on more precise data: process diagrams, list of required equipment, civil infrastructure, mechanical and electrical installations, full description of the construction and installation works of the plant, etc.
In case the activity is subject to a licence, the investor should request the necessary licence from the concerned administrations in accordance with the provisions of government decree n ° 2018-417 of May 11, 2018. relating to the publication of the exclusive list of economic activities subject to licencing and of the list of administrative licences required for the implementation of projects, the related provisions and their simplification.
Getting the investment declaration certificate allows the project’s promoter to proceed with the legal incorporation of the company, to start the process of carrying out the project and apply for tax and financial incentives in compliance with the Investment Law.
The investor can use several financing sources other than equity, to finance the project. The investor is also entitled to subsidies and / or other forms of incentives provided for by Law 2016-71. Regarding bank loans, it is up to the project director to approach national or international institutions active in the field. As funding is the sole responsibility of the project director, local authorities do not intervene in this process. The loan conditions (rate, limit, duration) are to be negotiated by the project director. The advantages provided for by the investment law n ° 2016-71 of September 30, 2016 with regard to the role of the Tunisian Investment Fund (TIF) are granted, according to the nature and the cost of the project,by:
- The Tunisian Investment Authority (TIA) for projects with an investment cost ≥ 15 MTD.
- The Industry and Innovation Promotion Agency (APII) or its regional directorates for projects in other sectors with an investment cost <15 MTD.
- The Agricultural Investment Promotion Agency (APIA) or its regional directorates for projects operating in the agricultural sector.
Once the construction work is completed, connections to the networks of STEG (Gas and Electricity), SONEDE (Water), ONAS (Sewage) and TELECOM are necessary to start the production phase. However, before the installations are put into service, connection studies are carried out by the various institutions. Technical data on the project must be provided before the various connections are done.